High-speed stock trading is focus of several investigations
If you’re not investigating high-speed stock trading, you’re missing one of the hottest trends on Wall Street.
U.S. Attorney General Eric H. Holder Jr. announced Friday that the Justice Department is examining high-frequency trading for possible violations of antitrust and insider-trading laws.
When Justice Department investigators visit companies, they may bump into their compatriots from other state and federal agencies.
The FBI disclosed this week that it is in the middle of a months-long probe. The Securities and Exchange Commission is conducting its own investigation. So reportedly are the New York attorney general and the Commodity Futures Trading Commission.
None of the probes has yielded charges of wrongdoing.
“In the financial sector, concerns have been raised recently about a practice called ‘high-frequency trading,’” Holder announced in testimony prepared for delivery before the House Appropriations Committee. “I can confirm that we at the Justice Department are investigating this practice to determine whether it violates insider trading laws.
“The department is committed to ensuring the integrity of our financial markets — and we are determined to follow this investigation wherever the facts and the law may lead,” Holder sai