Jerome Selvers Quoted in Bloomberg on the Market Rally that Unfolded Ahead of the Release of the Labor Department’s Inflation Report
Jerome Selvers, Partner and Chair of the Securities Regulatory Enforcement & Litigation practice at Pashman Stein Walder Hayden P.C., was quoted in a Bloomberg article, “In 60 Seconds Before CPI Hit, Heavy Trading Drove Mystery Rally.” The article discusses whether there was an early release of the November inflation report and whether that may have caused significant movement in the market.
Significant “trading activity ahead of market-changing news is suspicious and typically worthy of regulatory agencies making appropriate inquiries,” said Jerome Selvers, chair of the securities regulatory enforcement & litigation practice at Pashman Stein Walder Hayden. “This is unusual, especially given the reduction in inflation that was reported, which was well in excess of what markets anticipated,” he said. “Someone will likely look into it, whether it’s innocent or not.”