Switzerland’s highest court ordered Zurich brokerage Ellis...
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Switzerland’s highest court ordered Zurich brokerage Ellis AG to supply documents in a U.S. insider trading case that dates back to the late 1970s. The court granted a request by the U.S. Securities and Exchange Commission to waive Swiss secrecy rules on brokerage accounts on the grounds that the alleged insider deals would also have been punishable under Swiss law. Ellis is accused by the SEC of selling securities to people who were alleged to have used inside information.
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