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...
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