Day one of Citigroup's first day in court. The Australian corporate regulator is suing Citigroup, alleging conflicts of interest and insider trading. Investment banks around the world are watching the case nervously.
Investment banks and brokers have made a last minute bid to intervene in the Australian corporate regulator’s insider trading lawsuit against Citigroup. The bid comes on the request of a prominent investment bank in New York which is pretty worried about the case.
Nick Leeson, the rogue trader who bankrupted Barings Bank in 1995 and who was sentenced to jail for fraud, is planning a comeback, this time trading with his own money.
More developments this week in the Australian corporate regulator's lawsuit against Citigroup for insider trading and failing to manage the conflicts of interests involving its proprietary trading.
Significant developments in the Australian regulator’s insider trading case against Citigroup. The court documents filed today could rewrite the rules for investment banking worldwide by banning proprietary trading, the bread and butter for investment banks everywhere.
Regulators might be moving to crack down on the illegal trade of market-moving information from companies, but hedge funds are tapping a rich source of inside tips and predictions: politicians and the politically connected. They are hiring lobbyists to pick up market-beating tips in Washington.
Muhtar Kent, an executive with The Coca Cola Company has been tipped to be Coke's next chief operating officer, effectively the number two position. Ten years ago, he was investigated for insider trading.
