Sen. Warren’s Demand for an Insider Trading Investigation
Thursday October 15, 2020
Sen. Warren requested that financial regulators investigate whether certain investors, who allegedly shorted securities while privy to serious private concerns voiced by President Trump’s economic team on the pandemic’s trajectory and potential impact, engaged in unlawful insider trading. While Sen. Warren claimed this “appears to be a textbook case of insider trading,” former SEC Chairman Harvey Pitt explained that, due to the broad and generic nature of the information allegedly provided, these trades most likely did not violate federal securities law. However, Mr. Pitt condemned the alleged behavior as “morally repugnant,” for both those who provided and used the information, stating “If something really is terrible, and you can’t state that publicly, you have no business stating it privately for a privileged few.”
To read the full article written by Matt Egan of CNN Business please visit: https://www.kitv.com/story/42773004/elizabeth-warren-demands-investigation-into-elite-investors-accessing-trump-briefings.