Insider trading former

brain_wash_your

Todays (11.20.10) WSJ headline reports..

.."..potential to expose a culture of pervasive insider trading in US financial markets, including new ways nonpublic information is passed to traders through experts tied to specific industries or companies.."

.."..nonpublic information was passed along by independent analysts and consultants who work for companies that provide "expert network" services to hedge funds and mutual funds. These companies set up meetings and calls with current and former managers from hundreds of companies for traders seeking an investing edge."

.."..are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars.."

Is this a breach of CFA Standard (II-A) - Material Nonpublic information? If so, under what premise are expert networks like Primary Global Research LLC and Broadband Research LLC operate? After all they connect 'experts' to clients.

Lastly, it is sad to see that on one hand CFA candidates are being trained to follow the standards but the industry they find their livelihood in is full of practices that have no regards for such standards.