High-speed trading. Bloomberg discussed US Senate Agriculture Committee hearings on high-speed trading. Former CFTC economist Andrei Kirilenko said that new books and records requirements and policy and procedure rules for high-speed traders should be adopted. (5/12/2014) Testimony.
SEC wins insider trading jury verdict. Reuters reported that a jury has found in favor of the SEC in its insider trading lawsuit against Samuel E. Wyly and Charles J. Wyly, Jr. The agency alleges that the Wyly brothers gained more than US$550 million in undisclosed gains while sitting on corporate boards by trading stock in those public companies through hidden entities located in foreign jurisdictions. (5/12/2014) Verdict. See also SEC press release (announcing the lawsuit).