Not Logged In Log In   Sign Up   Points Leaders
Follow Us    2:16 AM

GasBuddy News Article

53
votes
SEC Accuses Hong Kong Firm of Insider Trading Ahead of Cnooc Deal

Fox Business --
The U.S. Securities and Exchange Commission has accused a Hong Kong-based firm of insider trading ahead of the public disclosure that Chinese oil firm Cnooc Ltd. (CEO, 0883.HK) plans to acquire Canadian energy producer Nexen Inc. (NXY, NXY.T).

The SEC said it has obtained a court order freezing $38 million in assets held by Well Advantage and other unknown traders, whom it said illegally took in more than $13 million in profits by trading in advance of the deal's announcement.

A representative from Well Advantage couldn't be immediately located for comment.

Cnooc said on Monday that it planned to buy Nexen for $15.1 billion, in an ambitious push by the Chinese state-owned oil company into North American oil and gas fields. The deal, if completed, would mark Cnooc's biggest

Read the Full Article

Submitted Jul 29, 2012 By: RNCII
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: SEC Accuses Hong Kong Firm of Insider Trading Ahead of Cnooc Deal Post a Reply Back to Topics
REPLIES (newest first)
First
1234
Next Last
Profile Pic
GasDuck
Champion Author Oregon

Posts:8,991
Points:2,902,445
Joined:Jun 2004
Message Posted: Aug 2, 2012 1:49:09 PM
 Ignore GasDuck Report Abuse

Transactions like this would explain how Romney accumulated such a large balance in his tax exempt retirement account.

This is something that an average investor could not do. However, someone connected to a firm like Bane Capital would have many opportunities for trades like this.
Profile Pic
honda0105
Champion Author Tallahassee

Posts:18,818
Points:1,636,245
Joined:Nov 2008
Message Posted: Aug 1, 2012 6:01:20 AM
 Ignore honda0105 Report Abuse

and that is any surprise to anyone?
Profile Pic
SkooterG
Champion Author Phoenix

Posts:1,369
Points:344,185
Joined:May 2012
Message Posted: Jul 30, 2012 1:31:26 PM
 Ignore SkooterG Report Abuse

The Chinese government being dishonest and unethical? Imagine that!
Profile Pic
69Bonne
Champion Author Gary

Posts:1,256
Points:493,350
Joined:Sep 2005
Message Posted: Jul 29, 2012 11:56:21 PM
 Ignore 69Bonne Report Abuse

I wouldn't trust them either.
Profile Pic
JuicyQ69
All-Star Author San Bernardino

Posts:660
Points:1,163,110
Joined:Apr 2009
Message Posted: Jul 29, 2012 11:53:33 PM
 Ignore JuicyQ69 Report Abuse

Do not trust Hong Kong Fooie.
Profile Pic
esquared
Champion Author Oklahoma City

Posts:8,202
Points:1,996,835
Joined:Jan 2006
Message Posted: Jul 29, 2012 11:48:15 PM
 Ignore esquared Report Abuse

Where in the world did the SEC find the gumption to enforce the rules?!
Profile Pic
Jeannemarie
Champion Author Las Vegas

Posts:27,729
Points:2,038,665
Joined:Aug 2005
Message Posted: Jul 29, 2012 11:47:23 PM
 Ignore Jeannemarie Report Abuse


what else is new??
Profile Pic
naiiawah
Champion Author Boise

Posts:2,525
Points:716,700
Joined:Mar 2011
Message Posted: Jul 29, 2012 11:46:58 PM
 Ignore naiiawah Report Abuse

OK, great. Now when are they going after all the rest on Wall street instead of just the Chinese?
Profile Pic
vcsuksu21
Champion Author Oklahoma City

Posts:2,514
Points:723,455
Joined:Dec 2010
Message Posted: Jul 29, 2012 11:45:12 PM
 Ignore vcsuksu21 Report Abuse

ok
Profile Pic
jlf599
Veteran Author Kentucky

Posts:339
Points:126,925
Joined:May 2012
Message Posted: Jul 29, 2012 11:43:46 PM
 Ignore jlf599 Report Abuse

China acting in their own best interests? How odd.
Profile Pic
unicornIL
Veteran Author Chicago

Posts:451
Points:393,570
Joined:Jan 2012
Message Posted: Jul 29, 2012 11:43:05 PM
 Ignore unicornIL Report Abuse

imagine that
Profile Pic
carman11
Champion Author North Carolina

Posts:3,480
Points:719,425
Joined:Jun 2011
Message Posted: Jul 29, 2012 11:42:58 PM
 Ignore carman11 Report Abuse

OK
Profile Pic
Bubba44612
Champion Author Ohio

Posts:7,526
Points:1,903,410
Joined:Aug 2005
Message Posted: Jul 29, 2012 11:42:18 PM
 Ignore Bubba44612 Report Abuse

Really.
Profile Pic
boatfloyd
Champion Author Jacksonville

Posts:1,858
Points:415,675
Joined:Mar 2012
Message Posted: Jul 29, 2012 11:40:18 PM
 Ignore boatfloyd Report Abuse

I can't believe it.
Profile Pic
jem069
Champion Author Detroit

Posts:2,679
Points:714,780
Joined:Jan 2011
Message Posted: Jul 29, 2012 11:38:35 PM
 Ignore jem069 Report Abuse

Ok
Profile Pic
jkpsr
Champion Author New Jersey

Posts:4,207
Points:1,127,915
Joined:Jun 2005
Message Posted: Jul 29, 2012 11:37:00 PM
 Ignore jkpsr Report Abuse

Your SEC in action.
Profile Pic
Rageagainsttm
Champion Author Tampa

Posts:8,422
Points:1,927,885
Joined:Jul 2007
Message Posted: Jul 29, 2012 11:35:33 PM
 Ignore Rageagainsttm Report Abuse

sure
Profile Pic
nomad228
Champion Author Columbus

Posts:3,143
Points:580,215
Joined:Feb 2011
Message Posted: Jul 29, 2012 11:30:11 PM
 Ignore nomad228 Report Abuse

just put me a million in my bank account so i can earn the interest off of it .then i won't care or be worried about what all these countries do.just make sure i earn between 3-5 percent on the million tax free.: )i could live very comfortably on 30-50 k a year on tax free interest. then maybe i could afford a 30-40k chevy volt and solar panels and a windmill on my property maybe even geo thermal heating and cooling, maybe even then i could get off the grid completely. : ) nice to dream.
Profile Pic
CAroadrunner101
Champion Author California

Posts:1,962
Points:1,342,150
Joined:Mar 2009
Message Posted: Jul 29, 2012 11:29:45 PM
 Ignore CAroadrunner101 Report Abuse

oops...
Profile Pic
Chris46
Champion Author Dayton

Posts:23,954
Points:2,107,475
Joined:Sep 2005
Message Posted: Jul 29, 2012 11:28:44 PM
 Ignore Chris46 Report Abuse

Greed in Chinese, is still greed!
Profile Pic
pastorpaulcg
Champion Author Virginia

Posts:3,615
Points:775,785
Joined:Dec 2010
Message Posted: Jul 29, 2012 11:26:51 PM
 Ignore pastorpaulcg Report Abuse

Corruption knows no nationality
Profile Pic
joel27nc
Champion Author Raleigh

Posts:10,672
Points:1,885,095
Joined:Mar 2008
Message Posted: Jul 29, 2012 11:26:42 PM
 Ignore joel27nc Report Abuse

Get them!
Profile Pic
Tigercat88
Champion Author North Carolina

Posts:3,337
Points:644,565
Joined:Jul 2011
Message Posted: Jul 29, 2012 11:25:52 PM
 Ignore Tigercat88 Report Abuse

Cheating is the China way.
Profile Pic
TFowler513
Champion Author Memphis

Posts:3,824
Points:1,437,135
Joined:Mar 2008
Message Posted: Jul 29, 2012 11:24:46 PM
 Ignore TFowler513 Report Abuse

You know it's true. The Chinese government will do anything to achieve global domination!!!
Profile Pic
farn1958
All-Star Author Twin Cities

Posts:886
Points:183,385
Joined:Feb 2011
Message Posted: Jul 29, 2012 11:24:43 PM
 Ignore farn1958 Report Abuse

Does it really make any difference?
Profile Pic
grandamgt1
Champion Author Illinois

Posts:2,486
Points:1,266,930
Joined:Apr 2008
Message Posted: Jul 29, 2012 11:24:15 PM
 Ignore grandamgt1 Report Abuse

Who would have thought? China cheating?.......
Profile Pic
chevellefan
Champion Author Georgia

Posts:2,861
Points:619,255
Joined:Sep 2011
Message Posted: Jul 29, 2012 11:23:41 PM
 Ignore chevellefan Report Abuse

k
Profile Pic
heartbroken2010
Champion Author Ottawa

Posts:4,480
Points:924,260
Joined:Aug 2010
Message Posted: Jul 29, 2012 11:23:27 PM
 Ignore heartbroken2010 Report Abuse

follow the money.
Profile Pic
Focus2
Champion Author Illinois

Posts:7,910
Points:1,928,350
Joined:Mar 2006
Message Posted: Jul 29, 2012 11:21:57 PM
 Ignore Focus2 Report Abuse

Good luck proving that and getting it straightened out!
Profile Pic
judgemobile
Champion Author Ohio

Posts:7,700
Points:2,471,660
Joined:Nov 2005
Message Posted: Jul 29, 2012 11:21:05 PM
 Ignore judgemobile Report Abuse

the rich get richer and the greedy get greedier.
Profile Pic
SandeeC
Champion Author Ontario

Posts:3,124
Points:476,535
Joined:Apr 2011
Message Posted: Jul 29, 2012 11:20:11 PM
 Ignore SandeeC Report Abuse

Corruption everywhere
Profile Pic
millerin
Champion Author Orlando

Posts:2,332
Points:487,315
Joined:Jan 2012
Message Posted: Jul 29, 2012 11:15:43 PM
 Ignore millerin Report Abuse

hmm...
Profile Pic
PrinceLH
Champion Author Ontario

Posts:2,832
Points:565,745
Joined:Jun 2011
Message Posted: Jul 29, 2012 11:14:45 PM
 Ignore PrinceLH Report Abuse

Corrupt part of the world. Why do we trade with these swine!
Profile Pic
Zonk
Champion Author Michigan

Posts:6,621
Points:2,129,715
Joined:Oct 2005
Message Posted: Jul 29, 2012 11:14:29 PM
 Ignore Zonk Report Abuse

Sounds like Wall Street.
Profile Pic
pepinoNC
Champion Author Raleigh

Posts:2,291
Points:685,515
Joined:May 2011
Message Posted: Jul 29, 2012 11:14:18 PM
 Ignore pepinoNC Report Abuse

Why is this still up.
Profile Pic
gilfarm
Champion Author Alabama

Posts:6,931
Points:1,975,565
Joined:Sep 2005
Message Posted: Jul 29, 2012 11:13:58 PM
 Ignore gilfarm Report Abuse

Not surprised!
Profile Pic
us4usa
Champion Author Missouri

Posts:6,120
Points:1,137,585
Joined:May 2008
Message Posted: Jul 29, 2012 11:13:30 PM
 Ignore us4usa Report Abuse

jorod55:Kick them out of the stock market permanently.

Who died and made them king of all foreign company???

The SEC can't even find big oil price fixing here in the US...
Profile Pic
12766
Champion Author New York

Posts:2,584
Points:1,511,115
Joined:Oct 2008
Message Posted: Jul 29, 2012 11:11:59 PM
 Ignore 12766 Report Abuse

OK
Profile Pic
2bigtanks
All-Star Author Akron

Posts:772
Points:371,610
Joined:Jun 2011
Message Posted: Jul 29, 2012 11:10:34 PM
 Ignore 2bigtanks Report Abuse

Trouble around ever corner.
Profile Pic
N5EXY
Champion Author Austin

Posts:5,632
Points:1,536,990
Joined:Jul 2004
Message Posted: Jul 29, 2012 11:09:34 PM
 Ignore N5EXY Report Abuse

Crooks. Worldwide. "The world is a bubble, trouble wherever we go." (Sam Bass)
Profile Pic
crreed1
Champion Author West Virginia

Posts:2,100
Points:2,550,715
Joined:May 2005
Message Posted: Jul 29, 2012 11:08:11 PM
 Ignore crreed1 Report Abuse

old news
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:800,300
Joined:Dec 2006
Message Posted: Jul 29, 2012 11:06:20 PM
 Ignore tedjm1 Report Abuse

What else do they not try to do?

[Edited by: tedjm1 at 7/30/2012 12:09:47 AM EST]
Profile Pic
mfeldstein
Champion Author Ottawa

Posts:8,301
Points:1,956,230
Joined:Feb 2007
Message Posted: Jul 29, 2012 11:06:04 PM
 Ignore mfeldstein Report Abuse

So, it's not only in North America then.
Profile Pic
DrLyon
Champion Author Michigan

Posts:6,764
Points:1,238,390
Joined:May 2006
Message Posted: Jul 29, 2012 11:05:58 PM
 Ignore DrLyon Report Abuse

Too bad...
Profile Pic
VetteFan
Champion Author Indiana

Posts:9,879
Points:2,056,180
Joined:Aug 2005
Message Posted: Jul 29, 2012 11:05:46 PM
 Ignore VetteFan Report Abuse

Can the SEC do anything about a foreign company?
Profile Pic
jorod55
Champion Author California

Posts:1,612
Points:458,450
Joined:Dec 2011
Message Posted: Jul 29, 2012 11:04:43 PM
 Ignore jorod55 Report Abuse

Kick them out of the stock market permanently.
Profile Pic
GigHarborHound
Champion Author Tacoma

Posts:2,669
Points:514,240
Joined:Sep 2011
Message Posted: Jul 29, 2012 11:04:03 PM
 Ignore GigHarborHound Report Abuse

Tell me ain't so......
Profile Pic
Bigwaynef
Champion Author South Carolina

Posts:11,674
Points:2,108,435
Joined:Dec 2006
Message Posted: Jul 29, 2012 11:02:50 PM
 Ignore Bigwaynef Report Abuse

Beware of them eyes...
Profile Pic
1fulltank
Champion Author Buffalo

Posts:8,036
Points:1,570,995
Joined:Nov 2008
Message Posted: Jul 29, 2012 11:02:41 PM
 Ignore 1fulltank Report Abuse

Git 'em.
Profile Pic
fenster66
Champion Author Pittsburgh

Posts:3,485
Points:700,815
Joined:May 2011
Message Posted: Jul 29, 2012 11:02:36 PM
 Ignore fenster66 Report Abuse

ok....
Post a reply Back to Topics
First
1234
Next Last
"Consumers working together to save on gas"