Responding To FINRA’s Insider Trading Inquiries

Law360, New York (April 13, 2012, 1:10 PM EDT) -- In 2011, the Financial Industry Regulatory Authority made more referrals (285) for insider trading to the U.S. Securities and Exchange Commission than in any prior year. The referrals came from FINRA’s Office of Fraud Detection and Market Intelligence (OFDMI), a high-tech, specialized unit that uses artificial intelligence and dozens of analysts to comb through SEC filings, trading records, press releases and its own database of prior investigations to look for suspicious trading. Pursuant to agreements with numerous self-regulatory organizations, FINRA has responsibility for monitoring insider trading...
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