Swiss To Assist SEC With Insider Trading Probe

Law360, New York (March 29, 2006, 12:00 AM EST) -- Seven years after the U.S. Securities and Exchange Commission first asked for help from Swiss officials with its insider-trading investigation into ABB Ltd.’s purchase of a Dutch company, Switzerland’s highest court ordered officials to turn over documents to the SEC on Tuesday.

Rejecting an appeal from account holders in a Lugano bank, the Swiss Federal Tribunal allowed Swiss authorities to offer the SEC “administrative assistance.”

The case revolves around a number of investors who allegedly purchased large amounts of shares in Elsag Bailey Process Automation through...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.