This week, the FBI released a Public Service Announcement starring two-time Academy Award-winning actor Michael Douglas warning viewers of the risks of securities fraud and encouraging individuals who have information regarding insider trading to contact their local FBI Office or submit a tip on line. The PSA begins with Mr. Douglas’s iconic "greed-is-good" speech from the 1987 film "Wall Street," which earned him an Oscar for the role of greedy corporate executive Gordon Gekko, and is followed with a clip of the present day Mr. Douglas warning investors that "if a deal looks too good to be true, it probably is," and providing information on how you can prevent securities fraud by contacting the Bureau. Released the same week that the FBI issued its latest Financial Crimes Report to the Public (discussed here), it seems a pretty clear sign that we have not heard the last of the insider trading cases. Stephanie Figueroa of PLI’s Securities Law Practice Center has a further look at the story here.
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