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FBI Searching for Whistleblowers in Finance Community

Apr 01, 2014
Jing Chen

The Federal Bureau of Investigation is leaning on financial industry professionals to help them lead to possible illegal activities.

Bloomberg reported that the FBI has “openly solicited and stock-exchange workers to blow the whistle on possible front-running and manipulation via high-speed computers.”

The agency is among a growing list of federal authorities examining high-frequency trading, in which firms use sophisticated technological tools and computer algorithms to trade securities in seconds or fractions of a second.

 Securities and Exchange Commission Chair Mary Jo White told lawmakers Tuesday that the agency is conducting “a number” of enforcement investigations of high-frequency and automated trading.

The most-headlined insider trading case recently surrounds Steve Cohen’s Connecticut-based SAC Capital Advisors, which has agreed to pay a record $1.8 billion settlement after pleading guilty to insider trading in November.


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