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Insider Trading

Insider Trading

Insider trading is buying or selling stock by a corporation's officer or any other insider acting on the basis of information that has not been made public, and is a criminal offense under United States law.

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Rajat Gupta (C), the former Goldman Sachs director charged with insider trading as part of the Galleon Group probe, departs from a pre-trial hearing at Federal Court with lawyer Gary Naftalis (R) January 5, 2012 in New York.

Zurich's branch of Bank Sarasin & Cie is seen on January 5, 2012 in Zurich. Swiss prosecutors launched a criminal inquiry into the case of a former bank worker who allegedly leaked details on the currency transactions of Swiss central bank chief A probe is under way into the 39-year-old ex-employee of Bank Sarasin & Cie 'for breaching federal banking laws,' the Zurich prosecutors office said in a statement. A controversial dollar purchase by Swiss central bank chief Philippe Hildebrand's wife Kashya has sparked major speculation in Switzerland over insider trading.

President of the Swiss National Bank Philipp Hildebrand gestures during a press conference in Zurich on January 5, 2012. Swiss prosecutors today launched a criminal inquiry into the case of a former bank worker who allegedly leaked details on the currency transactions of central bank chief Philipp Hildebrand. A controversial dollar purchase by Hildebrand's wife Kashya has sparked major speculation in Switzerland over insider trading. An SNB probe, launched after details of the 504,000 USD (394,000 euros) transaction emerged in December, found no breach of banking rules.

President of the Swiss National Bank Philipp Hildebrand arrives at a press conference on January 5, 2012 in Zurich. Hildebrand broke his silence over his wife's controversial dollar purchase that has sparked a growing scandal and speculation over insider trading. It emerged last month that his wife Kashya Hildebrand profited after buying $504,000 in August, just weeks before an intervention by the SNB to halt the rise of the franc -- a move that saw the dollar rise significantly against the Swiss currency. The affair has raised questions over current central banking regulations and ethics.

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Insider Trading