April 8th, 2011 at 5:23 pm
From: Stone Street Advisors
Ethics, they don’t haz it.
Here’s some advice for anyone hoping not to get caught in an insider trading web: Shut up.
After the October 2009 arrest of Galleon Group hedge fund founder Raj Rajaratnam, who was wiretapped by the FBI, the world woke to a new era of prosecutorial tactics in insider trading probes.
For those considering crossing the line, the changes may make insider trading seem a vocation not worth the risk.
Emails and other forms of electronic communication can be traced. Destroying old-fashioned snail mail or hard drives will not work if the government gets a tip it is being done.
And don’t talk to people. There is no certainty that what is said will remain private. Indeed, recent phone recordings make some accused wrongdoers come across as Keystone Kriminals.
If I remember correctly, the first week (if not first day) of Analyst training at my first…
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