When the Chairman and CEO of a Fortune 500 NYSE-listed company is charged with insider trading, complicated by the fact that he is a substantial financial contributor to the political party in power, it’s usually a significant financial news story. But, that not what happened when Jeff Sprecher, founder, Chairman, and CEO of Intercontinental Exchange, Inc. (NYSE: ICE) who is also the Chairman of the New York Stock Exchange, was charged by the U.S. Justice Department and SEC, with insider trading.Sprecher’s Insider Trading and the NYSE’s Big Governance Problem Still Persists…and Should Get Worse — The Progressive Investor
The article notes that Sprecher’s wife, Senator Kelly Loeffler, the wealthiest member of the Senate, was also charged. Attorney General William Barr, who has politicized the Justice Department to an unprecedented degree, dropped the charges. The insider trading charges against Loeffler were dropped by the Republican-controlled Senate Ethics Committee and the SEC.