The EVP of Wintrust Financial (NASDAQ: WTFC) is Buying Shares (Analyst Ratings)
Today, the EVP of Wintrust Financial (WTFC), David L. Larson, bought shares of WTFC for $72.6K. Following this transaction David L. Larson’s holding in the company was increased by 20.46% to a total of $633.8K. This is Larson’s first Buy trade following 3 Sell transactions.
Bargain Hunters Take Note: Insider Cluster-Buying At DFS (Nasdaq.com)
A particularly strong insider buying signal is what we call a “cluster-buy” where three or more different insiders make open market purchases within a short period of one another. At Discover Financial Services (Symbol: DFS), 3 different insiders purchased 21,777 shares at an average price of $74.05/share, for a total of $1.61M, with the most recent purchase on January 27, 2020. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. So when multiple insiders all decide to make purchases around the same time, it could be a strong indication that the stock is undervalued.
Lawyers Push to Toughen New US Insider Trading Law (AFR.com)
Washington | A group of influential US lawyers has urged Congress to toughen insider trading laws by making insiders liable even when they do not benefit from giving non-public information to traders. A task force led by Preet Bharara, the former Manhattan US attorney who led a crackdown on insider trading after the financial crisis, issued a report on Monday calling on legislators to eliminate the so-called “personal benefit” test in US insider trading law.
Personal Benefit in Title 18 Insider Trading Cases (Law.com)
In their Second Circuit Review, Martin Flumenbaum and Brad S. Karp discuss the court’s recent decision in ‘United States v. Blaszczak’, which significantly expanded insider trading enforcement authority. In United States v. Blaszczak, No. 18-2811, 2019 WL 7289753 (2d Cir. Dec. 30, 2019), the Second Circuit significantly expanded insider trading enforcement authority. In an opinion written by Circuit Judge Richard Sullivan and joined by Circuit Judge Christopher Droney, the Second Circuit held that (1) certain confidential government information may constitute “property” in the hands of the government for purposes of the wire fraud and Title 18 securities fraud statutes, and (2) the “personal-benefit” requirement of Dirks v. SEC, 463 U.S. 646 (1983) does not apply to insider trading cases prosecuted as Title 18 securities fraud and wire fraud.
Sebi Slaps Rs 95 Lakh Fine on 16 Entities for Fraudulent Trading in Dwitiya Trading Scrip (Business Insider)
New Delhi, Jan 28 () Markets regulator Sebi on Tuesday levied a total fine of Rs 95 lakh on 16 entities for executing fraudulent trading in the scrip of Dwitiya Trading Ltd. The regulator has fined the entities in the range of Rs 5 lakh-Rs 10 lakh each for violating the Prohibition of Fraudulent and Unfair Trade Practices norms.
The EVP, CFO, & Treasurer of Community Bancorp (NASDAQ: CTBI) is Selling Shares (Analyst Ratings)
Yesterday, the EVP, CFO, & Treasurer of Community Bancorp (CTBI), Kevin Stumbo, sold shares of CTBI for $51.47K. Following Kevin Stumbo’s last CTBI Sell transaction on September 20, 2016, the stock climbed by 11.9%.
