Business Wire Curbs Licenses In Nod To 'Insider Trading 2.0'

Law360, New York (February 21, 2014, 1:57 PM EST) -- Berkshire Hathaway unit Business Wire’s decision to stop high-frequency trading firms from licensing its direct feeds of information is a victory against "insider trading 2.0,” in which some investors pay for early access to market-moving tips, New York’s attorney general said Thursday.

Business Wire, known for its ubiquitous distribution of press releases and regulatory notices, said it couldn't find anything illegal about the practice but said that "misperceptions" among some clients led it toward the decision.

"There was nothing wrong in Business Wire serving these handful...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.