The Securities and Exchange Commission today charged a stock market analyst with insider trading prior to the publication of research reports and articles he authored with the false disclaimer that he wasn’t trading in the companies being covered.
He agreed to settle the charges and be barred from trading in penny stocks for the rest of his life.
But unlike the banking world, where deposits are guaranteed by federal deposit insurance, the value of stocks, bonds, and other securities fluctuates with market conditions. Securities and Exchange Commission enforces the laws on how investments are offered and sold to you.
No one can guarantee that you’ll make money from your investments, and they may lose value. Protecting investors is an important part of our mission.
Basrai agreed to settle the charges by paying disgorgement of his insider trading profits of $39,668.37 plus interest of $4,617.89 and a penalty of $39,668.37.
Stirton agreed to settle the charges without admitting or denying the allegations by paying disgorgement of his insider trading profits totaling ,218.87 plus interest of 7.43 and a penalty of ,218.87. Attorney’s Office for the Northern District of Illinois today announced criminal charges against Napodano and Basrai. Students are primarily placed within the Enforcement Division in the Boston Office, which is located in downtown Boston. Securities and Exchange Commission (SEC) attorneys on cases covering a broad range of the Commission’s mission such as conducting investigations of industry and issuer practices, and assisting in the litigation of enforcement actions, including trial preparation and legal research and writing.The SEC’s investigation was conducted by Jonathan Austin, Elizabeth Doisy, Martin Zerwitz, and Deborah A. Attorney’s Office for the Northern District of Illinois, the Federal Bureau of Investigation, and the Financial Industry Regulatory Authority.Tarasevich and supervised by Robert Cohen and Antonia Chion. The writers allegedly posted bullish articles about the companies on the internet under the guise of impartiality when in reality they were nothing more than paid advertisements.More than 250 articles specifically included false statements that the writers had not been compensated by the companies they were writing about, the SEC alleges.We cannot tell you what investments to make, but this website provides unbiased information to help you evaluate your choices and protect yourself against fraud.Visit the Roadmap to Saving and Investing A few people may stumble into financial security. Knowing how to secure your financial well-being is one of the most important things you’ll ever need in life. You just need to know a few basics, form a plan, and be ready to stick to it.The SEC alleges that Jason Napodano, who headed a division called Zacks Small Cap Research within a larger investment research firm, misled investors in penny stocks by representing that he wasn’t trading or holding positions in the companies he was writing about while secretly trading the same stocks based on nonpublic information about the publication date of his research.In an effort to evade detection, Napodano allegedly limited his profits from each illegal trade by taking small positions and closing the positions shortly after his reports and articles were published.