An Analysis Of SEC V. Rorech

Law360, New York (August 12, 2009, 12:57 PM EDT) -- In a case that has attracted much attention, the U.S. Securities and Exchange Commission has attempted to expand the reach of its enforcement authority to include credit default swaps.

On May 5, 2009, the SEC charged Jon-Paul Rorech, a former salesman at an international investment bank, and Renato Negrin, a former portfolio manager at a large hedge fund, with insider trading in credit default swaps (CDSs).[1]

As the SEC recognized in its press release announcing the case, this is the first time the SEC has brought...
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