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Ethisphere Magazine Features

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Compliance Surprises in Cuba’s Closed Economy

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Environmental Commitments in Global Business

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Foreign Corrupt Practices Act Due Diligence in Mergers & Acquisitions

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Fresh Take On An Old Code

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Knowledge, Commitment and Experience Lead the Way: Thoughts And Ideas From The Front Lines

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Fighting Corruption through Collective Action in today’s Competitive Marketplace

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Global Compliance: Jordan

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The Good and the Bad: Keeping Tabs on the Business of Business

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Helping the Finance Sector Measure and Manage its Sustainability Performance

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How Did I Get Here?

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The Road to a Model Ethics and Compliance Program

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50 Codes of Conduct Benchmarked - Issue Focus - Energy and Utilities and Business Services

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  • May 11-15: MOSS - 2009 Sustainability Series Two: Licence to Operate (Australia)// Click here
  • June 8-9: MarcusEvans: 2nd Annual Sustainable FCPA Compliance // Click here

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Insider Trading global push continues as former Chilean presidential candidate slapped with $680k fine

July 15, 2007

pinera.jpgChile’s securities regulator has fined former presidential candidate Sebastian Pinera US$680,000 for conducting illegal insider trading of the airline stock LAN Airlines SA.

At issue was that Mr. Pinera, a Board of Director member of the company, bought the airline’s stock just a few days before a strong earnings report in July of last year. Mr Pinera had advance knowledge of the report - and took advantage of this inside knowledge to profit from his sudden 3 million share purchase.

Two other stockholders in the airline also were fined. Pinera indicated he would not appeal the fine, which he called ‘politically motivated’.

Commentary: Another example of the “globalization” of insider trading.

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