SEC's Thomsen Says Insider Trading Is Rampant

Law360, New York (October 25, 2007, 12:00 AM EDT) -- A senior U.S. Securities and Exchange Commission official reportedly said on Thursday that insider trading among Wall Street professionals is “rampant” and indicated that there would be more enforcement actions for stock options backdating in the near future.

Linda Chatman Thomsen, the SEC’s director of enforcement, told a group of reporters at a securities fraud conference that she believed there would be more insider trading cases on the horizon, Reuters reported.

“I am disappointed in the number of cases we are seeing by people who make...
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