Ex-chief of trading firm tipped off porn actress, SEC says

[UpInArms]

http://www.marketwatch.com/news/story.asp?guid=%7B0225B5A6%2D27D7%2D458D%2D830F%2D986463EA736D%7D&siteid=mktw

WASHINGTON (MarketWatch) -- The former chairman of Keefe, Bruyette & Woods Inc. has agreed to pay a $230,000 fine to settle insider-trading charges, the Securities and Exchange Commission said Tuesday.

James McDermott Jr. passed material nonpublic information to Kathryn Gannon, formerly an adult-film actress whose screen name was Marilyn Starr, about merger deals involving Central Fidelity Banks Inc., Advanta Corp., Barnett Banks Inc., First Commerce Corp., California State Bank and First Commercial Corp., the SEC said.

The SEC's complaint said Gannon made illegal profits of at least $88,135 by trading on the securities of the companies involved.

The U.S. District Court for the Southern District of New York, after reviewing her finances, spared Gannon of financial penalties, according to a written statement by the SEC.

...more...

[Betsy Ross]

1. Another "Gannon" in the news. n/t

[Jacobin]

2. "Gannon?"

Co-inky-dink? or what?

[sinkingfeeling]

3. And how come Martha Stewart's broker went to jail and so did

she (wasn't convicted of insider trading)?

[alittlelark]

4. Jeff's sister?

:shrug:

[gulfcoastliberal]

5. Hope the ass was worth it...

$230,000 is one expensive fuck.

[On the Road]

6. Here She is in Her Prime

I'll you be the judge of whether it was worth it.

[clydefrand]

9. Looking beautiful doesn't mean she's good in any capacity!

[MO_Dem]

11. Looks like Phyllis Schlafly?

Wonder if she's related?

(I just got my copy of the Brown Album this spring at an LP show/sale. I love The Band!)

[quiet.american]

7. There's a "Law & Order" episode on this, isn't there? n/t

[President Jesus]

8. Take a WILD guess who this hump donated to...

http://www.newsmeat.com/ceo_political_donations/James_McDermott_Jr.php

[AlCzervik]

10. you had me at "hump" lol