Whether the federal security laws have been violated


Question: MIC planned a tender offer for the shares of the Gulf States International Corp. Archer, an officer of MIC, placed purchase orders for GCIC stock through the New York office of the Bohemian Bank prior to the announcement of the tender offer, making a $300,000 profit when the tender offer was made public. The Bahamas is a secrecy jurisdiction. The bank informed the SEC that under its law, it could not disclose the name of the person for whom it was purchased the stock. What, if any, may SEC do to discover whether the federal security laws have been violated?

 

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Other Subject: Whether the federal security laws have been violated
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