10:06:48 EST Sun 15 Dec 2019
Enter Symbol
or Name

SEC, prosecutors accuse RBC analyst of insider trading

2019-08-12 20:03 ET - Street Wire

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

The U.S. Securities and Exchange Commission and prosecutors in New York have filed insider trading charges against a very junior analyst at RBC Capital Markets analyst. The government claims that Bill Tsai, a 23-year-old employee of RBC in New York, used confidential information to buy out-of-the-money options ahead of a $1.7-billion takeover offer. (All figures are in U.S. dollars.) Those options more than tripled in value after the takeover became public, prosecutors say.

Mr. Tsai was arrested in New York on Sunday, Aug. 11, on the charges. He made an initial appearance before a judge on Monday afternoon, with the judge releasing him on a $100,000 appearance bond. He has not yet entered a plea.

Bill Tsai
Bill Tsai

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2019 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.