SEC Charges 14 in Wall Street Insider Trading Ring "... The scheme involved unlawful trading ahead of upgrades and downgrades by UBS research analysts and corporate acquisition announcements involving Morgan Stanley's investment banking clients. The ringleaders of the UBS part of the scheme went to great lengths to hide their illegal conduct, first through a clandestine meeting at Manhattan's famed Oyster Bar and eventually the use of disposable cell phones, secret codes and cash kickbacks before the scheme unraveled..." SEC Litigation Release No. 20022 Incredible, despicable, yet intriguing. Look forward to seeing the resulting Hollywood film "based on a true story", so that the eventually sentenced defendants, their families, mistresses, etc., do not receive any remuneration.
yes brights commission structure is way too high for any serious heavy vol scalper simple as that. we find out there's no free lunch. this 5 or 10k down in llc's is a fantasy and about to end. i believe the sec is ending this over the coming year or so. look at all the little guys at jasper that will lose there deposits. get a retail account with jasper,genesis,ib or hold and control your on destiny. DON MAYBE YOU CAN COMMENT ON THIS. I READ THE SEC WILLS TART REQUIRING ALL SERIES 7 GUYS YOUR YOUR TRADERS TO BECOME PARTNERS OF THE FIRM AND YOU WON'T BE ABLE TO CHARGE THEM COMMISSIONS. YOU'LL HAVE TO TAKE A % OF PROFIT. IS THIS TRUE?
Yes don seemed like a nice man but his fee's are high. From what i have read it will be illegal to charge a trader commissions or take a deposit. Plus redi plus is not a good software from what i saw at the expo. Is this true don? When will they ban the commissions? Thanks Traderpro
It's obvious your clueless to whats been going on since 2006. I may have been with one shady llc but rules are being enforced to protect us all. http://www.greencompany.com/PropTraders/Traders.shtml
Hmmm...from the above quote it wasn't a big secret, sounds like! From the WSJ: Prosecutors also alleged that Messrs. Childs and McKeever, both of Assent, learned that Messrs. Tavdy and Glass, of Jasper Capital, were trading through accounts at Assent and were reaping large illegal profits based on information they received about UBS ratings changes, according to court documents. Messrs. Childs and McKeever agreed not to disclose the scheme in exchange for payments. Mr. Glass agreed to pay $100,000 to Mr. Childs and $50,000 to Mr. McKeever and paid $30,000 to both men in $10,000 increments from August to November 2006, prosecutors say. Anybody from Assent know Childs or McKeever? Crazy guys! They should have known it would all blow up. Interesting story, anyway...
From the WSJ: Prosecutors also alleged that Messrs. Childs and McKeever, both of Assent, learned that Messrs. Tavdy and Glass, of Jasper Capital, were trading through accounts at Assent and were reaping large illegal profits based on information they received about UBS ratings changes, according to court documents. Messrs. Childs and McKeever agreed not to disclose the scheme in exchange for payments. Mr. Glass agreed to pay $100,000 to Mr. Childs and $50,000 to Mr. McKeever and paid $30,000 to both men in $10,000 increments from August to November 2006, prosecutors say. Childs and McKeever are Freaking Sh*t Heads.
Of course he is. Ripping people off can be done in many ways. In my opinion HIGH FEES and misrepresenting yourself is also another way. Larry and sam are slime and all who knew them know this. You know what they say about payback
Since "Jasper Capital, LLC" is being charged with insider trading, does that put uninsured retail account deposits at Jasper at risk of being frozen/liquidated?