Mario Tama
U.S. authorities are preparing to lay charges following a massive insider-trading investigation involving investment bankers, hedge-fund and mutual-fund traders and analysts across the country, the Wall Street Journal is reporting.
According to the report, the three-year probe investigated a number of insider-trading rings and the possibility of these rings reaping tens of millions of dollars in profit.
Charges could be laid before the end of the year, the report states.
Sources told the Wall Street Journal that the criminal investigation focused on whether information was disclosed by independent analysts and consultants working for companies providing "expert network" services to hedge funds and mutual funds.