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Former Head of Corporate Communications of New Jersey-based Biopharmaceutical Company Admits Insider Trading

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the staff of the Ridgewood blog

Newark NJ, the former head of corporate communications for a biopharmaceutical company today admitted her role in an insider trading scheme, U.S. Attorney Philip R. Sellinger announced.

Lauren S. Wood, 33, of Washington, D.C., pleaded guilty before U.S. District Judge John Michael Vazquez to an information charging her with securities fraud. Stemming from the same alleged conduct, Usama Malik, also of Washington, D.C., was previously charged in a three-count indictment with insider trading, securities fraud, and securities fraud conspiracy.

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New Jersey-based Biopharmaceutical Executives Arrested for Insider Trading

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the staff of the Ridgewood blog

Newark NJ, the former chief financial officer and the former head of corporate communications for a biopharmaceutical company were arrested for their roles in an insider trading scheme, Acting U.S. Attorney Rachael A. Honig announced today.

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Banks ,Brokerages ,Major Stock and Commodities Exchanges Plot Moves to Leave New Jersey

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the staff of the Ridgewood

Mahwah NJ, Banks ,Brokerages ,Major Stock and Commodities Exchanges Plot Moves to Leave New Jersey. Texas Governor Greg Abbott will welcome representatives from major stock exchanges, including Nasdaq, to Austin on Nov. 20 as the state makes a bid to be the top choice if the exchanges make good on threats to move their trading platforms out of New Jersey.

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Financial Transition Tax Will Drive Data Centers Out of New Jersey

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the staff of the Ridgewood blog

Mahwah NJ, The New Jersey Chamber of Commerce opposes legislation (S-2902/A-4402) which would impose a new tax on financial transactions, such as electronic stock trades, that flow through major data centers in New Jersey.

Simply put, the tax could backfire on New Jersey. The mere discussion of this tax has caused several stock exchanges to begin exploring moving their data centers out of New Jersey – to states that don’t impose such a tax. Last month, the New York Stock Exchange, which has a data center in Mahwah, N.J., said it ran one of its exchanges from a back-up data center in Chicago to demonstrate its readiness to move out of New Jersey. Two other exchange operators, Nasdaq Inc. and Cboe Global Markets Inc., also indicated that they would leave New Jersey over the tax. If New Jersey loses data centers, the state would actually be looking at less revenue and less jobs.

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NASDAQ May Follow the NYSE lead and relocate its electronic-trading systems from data centers out of New Jersey

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the staff of the Ridgewod blog

Mahwah NJ, Nasdaq has joined the New York Stock Exchange in looking to potentially relocate its electronic-trading systems from data centers in New Jersey over a potential new tax.

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BOOM: Dow, Nasdaq plunge 3% into correction

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Evelyn Cheng | @chengevelyn

U.S. stocks closed deep in the red on Friday as global growth concerns accelerated selling pressure to push the Dow into correction territory. (Tweet This )

The Dow Jones industrial average fell more than 500 points, into correction territory for the first time since 2011 as all blue chips declined. In the last five years, the index has only had four instances with closing losses of more than 400 points.

“For investors the momentum and the drive of the market is now lower (than) it used to be because there’s no place to hide,” said Lance Roberts, general partner at STA Wealth Management. “Every time we hit the major technical points we kept selling.”

A traders noted that investors stopped looking at techincals and were plowing through them.

“It’s an expiration day and it looks like they’re to have for sale on the close maybe as much as a billion dollars,” said Art Cashin, director of floor trading for UBS.

The Nasdaq Composite lost more than 3 percent, also closing in correction territory and joining the other major averages in negative territory for the year.

https://www.cnbc.com/2015/08/21/us-markets-global-growth.html