SoylentNews is people
SoylentNews
http://www.reuters.com/article/us-usa-insidertrading-insight-idUSKBN12W2X4
When plumber Gary Pusey pleaded guilty in May to insider trading, it was a victory not just for New York prosecutors but for a little-known squad inside the U.S. Securities and Exchange Commission that uses data analysis to spot unusual trading patterns. Formed in 2010, the Analysis and Detection Center of the SEC's Market Abuse Unit culls through billions of rows of trading data going back 15 years to identify individuals who have made repeated, well-timed trades ahead of corporate news. The new strategy is starting to show results, enabling the SEC to launch nine insider trading cases, around 7 percent of cases the agency brought since 2014 against people who trade on confidential corporate information.
It signals a shift in how the agency initiates insider trading probes, which more often are launched based on referrals from Wall Street's self-regulator Financial Industry Regulatory Authority, or an informant's tip. "It's essentially the new frontier," said Andrew Ceresney, the SEC's enforcement director. "We have tremendous amounts of data available to use, and we've been developing tools to take advantage of that."
(Score: 4, Insightful) by Phoenix666 on Thursday November 03 2016, @09:28AM
I'm so glad to see the revolving door mavens at the SEC have finally gotten serious about cracking down on financial crimes. Plumbers cannot be allowed to horn in on the bankers' action.
Washington DC delenda est.
(Score: 0) by Anonymous Coward on Thursday November 03 2016, @12:44PM
Martha Stewart says this "is a good thing".
(Score: 2) by iWantToKeepAnon on Thursday November 03 2016, @09:39PM
"Happy families are all alike; every unhappy family is unhappy in its own way." -- Anna Karenina by Leo Tolstoy