Schneiderman Launches Hotline to Whistleblow on Insider Trading
Attorney General Eric Schneidrerman has set up a hotline for reporting incidents of a new form of "Insider Trading 2.0."
The AG says the threat to our financial markets posed by the toxic combination of high frequency trading, the potentially illicit sale of early access to market-moving information and so called "front running schemes that major hedge funds use to get early access to analyst reports," gives a small minority of traders enormous profits at the expense of the rest of the market.
In response the Attorney General's Office has set up a hotline for financial industry insiders to report any improper or illegal conduct. The number to call is 800-771-7755.