Finance
Wiretaps Show French Crackdown on Insider Trading
Once ignored, the offense is being targeted in a push to fight white-collar crime.
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It was a busy Thursday, and Stephane Fima was on edge. After wrapping up a conference call with colleagues, the Société Générale SA managing director rang his friend Thomas Seligman. Fima stammered that he was worried and wanted “to stay safe,” then started reading a series of seemingly random figures. “Just write them down,” the banker said, before asking Seligman if he had another phone.
“This one is safest,” replied a perplexed Seligman. “We haven’t used it in eight months.”