"16 Major Firms May Have Received Early Data From Thomson Reuters"

[applegrove]

16 Major Firms May Have Received Early Data From Thomson Reuters

By Matt Taibbi at Rolling Stone

http://www.rollingstone.com/politics/blogs/taibblog/16-major-firms-may-have-received-early-data-from-thomson-reuters-20130905

"SNIP.................................


Back in June, journalist Simone Foxman at the global economic site Quartz reported that in addition to the two-second head start some Thomson Reuters customers were getting on the release of the University of Michigan Survey of Consumers, other customers may have been getting their data even earlier, "nearly an hour in advance" in some cases.

Rolling Stone has since learned that a whistleblower complaint has been filed to the SEC identifying 16 of the world's biggest banks and hedge funds as the allegedly even-earlier recipients of this key economic data. The complaint alleges that this select group of customers received the data anywhere from 10 minutes to an hour ahead of the rest of the markets.

The identity of these 16 firms has not been made public yet, but sources describe the firms as major financial institutions, many of them well-known to the general public. Their inclusion in this case would significantly expand the scope of the scandal.

Contacted by Rolling Stone today, the SEC declined to comment on the status of the case.


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[Brickbat]

1. K&R

[coldmountain]

2. BBBBBBBBBBBBBuuuuuuuuuuuuttttttttt I was t ttt ttold there was an invisible hand!

[Oilwellian]

3. Well, isn't that special

There's nothing like insider trading on Wall Street these days.

[octoberlib]

4. K&R!

[Uncle Joe]

5. Kicked and recommended.

Thanks for the thread, applegrove.

[CrispyQ]

6. The system isn't broken. The system if fixed. -nt