Money & Company
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Dec. 5, 2011
Business
The Supreme Court upheld the government’s broad power to prosecute those who make money by trading securities based on secret tips, ruling Wednesday that “outsiders” as well as corporate executives can be sent to prison for insider trading.
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Securities: A Minneapolis attorney’s case may narrow the definition, which could make some get-rich-quick schemes legal.
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It was a merry, merry month of May for Gary Lynch, the Securities and Exchange Commission’s 35-year-old chief of enforcement who got yawns last November when he announced a special SEC probe of insider trading by market professionals.
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