Speech by SEC Staff:
Remarks at November 5, 2009 Press Conference
By Robert Khuzam, Director, SEC Division of Enforcement
U.S. Securities and Exchange Commission, New York, New York
“There is a basic principle that governs our capital markets, and that is that there is one set of rules, and everyone is expected to play by that one set of rules.”
“That principle gives investors confidence that the markets are fair.”
“Insider trading is a corruption of that basic principle.”
“It’s an unfair advantage, a tilted playing field, for the most unscrupulous among us – those whose greed and arrogance drive them to betray their duties and their loyalties as professionals and as citizens.”
“So while today is a good day for law enforcement, it’s a disturbing day as well, because we expose the apparent ease with which these Wall Street professionals, corporate insiders, analysts and lawyers disregarded the rules and their duties to clients and shareholders for kickbacks and easy profits.”
Entire speech can be read here: