soxfirst
Morgan Stanley's family therapy: insider trading
Filed in archive corporate crime by leon on May 13, 2007
morganstanley.jpg
Last week, I talked here and here about how insider trading was becoming more of a problem.

Now, as if on cue, we have the extraordinary story of two Morgan Stanley executives have been charged with insider trading in schemes involving their spouses.

That's on top of the Hong Kong couple who were last week accused by the US Securities and Exchange Commission in connection with insider trading in the shares of Dow Jones following a $5 billion bid by News Corp.

One of the accused, Randi Collotta, was a Morgan Stanley compliance officer. She pleaded guilty to charges that she tipped off her husband Christopher Collotta and a Florida broker, Marc Jurman, about Adobe Systems Inc.'s 2005 purchase of Macromedia Inc. and other deals. She and her hubby are lawyers.

"It's the equivalent of a CIA officer being indicted for selling defense secrets. You are the intelligence operation,'' Securities Law professor John Coffee told Bloomberg.

The connections here make it murkier and murkier, and they might tell us something about why insider trading is becoming more of a problem. It's not just pillow talk either, although that might have something to do with it, says The Times business editor James Harding.

"The extraordinary thing about insider trading is that more people don't do it. In the current frenzy of deal-making, the rewards are great, the opportunities are many and people privy to market-sensitive information are numerous."



Permalink: Morgan Stanley's family therapy: insider trading
Tags: insider  trading  Morgan  Stanley  business  insider+trading  morgan+stanley  therapy+insider 
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/68859
img Addthis img Ask img Blinklist img del.icio.us img Digg img Fark img Facebook img Google img Lycos img Ma.gnolia Add this page to Mister Wong Mr Wong img Netscape img Netvousz img Newsvine img Reddit img StumbleUpon img Slashdot img Tailrank img Technorati img Wink img Yahoo

Vote for Morgan Stanley's family therapy: insider trading:

  • Currently 9.00/10
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Rating: 9.00 out of 7 vote(s) cast.
 
Subscribe
Share It
RSSrss
See all blog subscribe options
Google google
What is RSS?
Yahoo! yahoo
Addthis Subscribe using any feed reader!
Bloglines Bloglines
Newsletter

TwitterFollow us on Twitter!