View more on these topics

Regulators bring charges over £64m insider trading hack

Cyber security

US authorities have charged 32 members of an alleged hacking and insider trading ring which is said to have generated over £64m in illegal profits.

The BBC reports the 32 fraud charges have been brought by US regulator the Securities and Exchange Commission and spans the US, Russia, Ukraine, France and Cyprus.

Indictments claim that hackers accessed data via financial newswires to obtain information about companies before it was made public. This information was then used to buy and sell shares.

In a statement, SEC chair Mary Jo White says: “This international scheme is unprecedented in terms of the scope of the hacking, the number of traders, the number of securities traded and profits generated.”

Nine members of the alleged ring had already been charged by district attorneys in New York and New Jersey.



Ian McKenna: The secrets to successful software selection

There seems an unprecedented level of interest among advisers recently for reviewing the technology they use to run their businesses. Consequently, over the coming months this column will mainly focus on how advisers can better prepare for and conduct a review of their software as well as look at a number of the leading systems, […]


Remortgaging surges as borrowers prepare for rate rise

Remortgage lending surged in June as borrowers prepare for the first rise in base rate in over six years. Figures from the Council of Mortgage Lenders, published today, show remortgage lending was up 34 per cent year-on-year to £5.1bn. By volume, remortgage loans were up 31 per cent annually, at 31,600. The amount lent to […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment