Portuguese Regulator Probing Alleged Insider Trading At BES

Law360, Los Angeles (August 05, 2014, 3:23 PM ET) -- Portugal's securities regulator said Monday that it is investigating potential insider trading in Banco Espirito Santo SA securities leading up to last week's collapse of the bank's shares, which prompted the Portuguese central bank to step in and rescue BES.

The Comissao do Mercado de Valores Mobiliarios said that it has begun an in-depth investigation to ascertain whether any insider trading in BES securities occurred before the regulator suspended trading on Friday.

"In accordance with practice and pursuant to the law, the CMVM shall notify the...
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