嵇晨

JiChen

　　如果说曾经的爱将索科尔在路博润公司大宗股票涉嫌内幕交易是偶发事件，那么近期“股神”巴菲特旗下伯克希尔·哈撒韦公司联手巴西3G资产公司以共计280亿美元收购美国食品业巨头亨氏再遭美国证交会（SEC）的“内幕交易”调查，则似乎传达出一个信号：在今年并购交易渐成资本市场新机遇的趋势下，华尔街的监管机构也已经紧盯其中可能出现的涉嫌不道德交易。

If ever love line cole in the lubrizol large blocks of shares is suspected of insider trading contingencies,So in the near future"Strands of god"Buffett's Berkshire hathaway to Brazil 3 g asset companies with a total of $28 billion buying American food giant heinz again by the SEC(SEC)of"Insider trading"survey,It seems to transmit a signal:In this year acquisitions gradually into the capital market under the trend of new opportunities,Wall Street's regulators have close watch which may appear alleged unethical trading.

巴菲特“躺枪”？ buffett"Lie gun"?

　　SEC 2月15日宣布，由于涉嫌在亨氏公司收购交易宣布前进行内幕交易，一个设在瑞士苏黎世的交易账户已被冻结，该交易账户在过去半年内未进行与亨氏相关的证券交易，但在巴菲特收购亨氏消息公布前一天却大量购入亨氏认购期权，从中赚取170万美元利润。

SEC on February 15, announced,Because of alleged in heinz company acquisitions announced in front of the insider trading,In Zurich, Switzerland, trading account has been frozen,The trading account in the past half a year before and heinz related securities trading,But in the buffett announced the acquisition of heinz but bulk buying heinz call option,Make a profit of $1.7 million.

　　“这是典型的并购交易引发涉嫌内幕交易，当然会引起SEC的怀疑。”一名业内人士对《第一财经日报》记者表示，SEC内部有专门的团队负责紧盯相关并购的内幕交易，每次有重大并购，所有相关的股票交易账户都会被纳入监视范围。

"This is typical of mergers and acquisitions cause suspected insider trading,Of course will cause the SEC doubt."One of the personage inside course of study[The first financial daily]reporters,SEC internal have special team responsible for closely related mergers and acquisitions of insider trading,Every time a major mergers and acquisitions,All the relevant stock trading account will be included in the scope of monitoring.

　　SEC方面称，由于还不清楚上述交易账户背后的交易者身份，该期权交易“高度可疑”，很可能利用了机密信息进行不正当交易。

SEC said,Because is not clear the trading account traders behind the identity,This option trading"Highly suspicious",Is likely to use of the confidential information for unfair trade.

　　这不禁让人想起索科尔事件中，巴菲特曾言之凿凿地表示不理解其做法，并承认未能追查他何时购买并持有多少路博润股票是自己的错误。行业人士表示，如果此次“亨氏事件”被查实问题依然在巴菲特公司，那很可能将扯出又一次华尔街的丑闻，届时“股神”巴菲特的光环上将被蒙上阴影；但也不排除问题出在亨氏公司自身，那么巴菲特就是“躺着中枪”。答案有待SEC披露进一步的调查结果，谁将对这笔内幕交易的后果负责将是市场关注的重点。

This can not help but make people think of rope cole event,Buffett say with certainty that don't understand its practice,And recognize failed to track when he buy and hold many LuBoRun stock is his own mistake.Industry say,If the"Heinz events"Verify is still in the buffett company,That is likely to pull out another Wall Street's scandal,the"Strands of god"Buffett's aura will be overshadowed;But it will not rule out the problem in the heinz company oneself,So Mr Buffett is"Lie in gun".The answer to be SEC disclosure further investigation results,Who will be responsible for the consequences of the insider trading will be the focus of market attention.

SEC严打内幕交易 Crackdown SEC insider trading

　　内幕交易是SEC近年来严打的主要方向，就在巴菲特被卷入“亨氏事件”之余，2012年底被SEC指控涉嫌参与史上最大金融内幕交易的华尔街大型对冲基金SAC资本，也面临着投资者大量撤出资本的困境。

SEC insider trading is the main direction of analysis in recent years,In buffett was involved in"Heinz events"More than the,By the end of 2012 SEC accused of suspected of involvement in the history of the largest financial insider trading on Wall Street large hedge fund SAC capital,Also faces a lot of investors out of the plight of capital.

　　据知情人士透露，由于SEC已经指控SAC资本涉嫌民事欺诈，一旦诉讼被启动，SAC资本多年来高回报将遭遇广泛质疑。换句话说，被业内誉为华尔街最成功的对冲基金经理史蒂夫·柯恩（Steven Cohen）难道是靠内幕交易获得投资高回报的吗？

According to informed sources,Due to the SEC has been accused of SAC capital suspected civil fraud,Once the action was launched,SAC capital for many years high rewards will encounter widely questioned.In other words,Is the industry known as Wall Street's most successful hedge fund manager Steve koen(Steven Cohen)Don't depend on insider trading gain high investment return?

　　“投资人最担心的是SAC资本将面临非常不确定的前景。”知情人士对本报表示，截至2013年第一财季，很多重量级投资人“用脚投票”表达了他们对此的担忧，其中黑石抽出了5.5亿美元投资，花旗集团此前声明计划赎回近2亿美元投资。有统计显示，在今年3月30日之前，将有共计6.6亿美元资本被撤出，加上此前的10亿美元，保守估计，SAC资本在此次涉嫌“内幕交易”的风波中已经损失16.8亿美元投资资本。

"Investors worry most about SAC capital will face very uncertain prospects."People familiar with the matter said to this newspaper,By the end of 2013 the first quarter in,Many heavyweight investors"Vote with their feet"Have expressed worries,The black stone extraction made a $550 million investment,Citigroup previous statement plan redemption nearly $200 million investment.Statistics show,In march this year 30 days before,There will be a total of $660 million in capital were evacuated,And had 1 billion dollars,Conservative estimate,SAC capital in the suspected"Insider trading"The storm has lost $1.68 billion investment capital.

　　“一般SEC打击内幕交易都会以罚款了结，但这次SAC资本事件已经引起市场投资者更谨慎的关注，对公司本身造成了一定的负面影响。”分析人士对本报称。

"General SEC insider trading will be hit with a fine settle,But the SAC capital event has attracted the attention of the market investors more carefully,For the company itself caused certain negative influence."Analysts said this.

　　此前，美国检方指控SAC资本旗下前基金经理涉嫌利用内幕交易消息对惠氏和Elan两家美国制药公司的股票进行买卖交易，从而避免1.94亿美元损失，并因此非法获利8300万美元，在同类内幕交易案件中获利颇丰。当时有权威媒体援引知情人士的话表示，批准买卖行为的就是史蒂夫·柯恩本人。

after,American prosecutors accused of SAC capital fund manager before its alleged use of insider trading news about HuiShiHe Elan two American pharmaceutical company stock transactions,To avoid loss of $194 million,And therefore illegal profit of $83 million,In the similar insider trading case a profitable.Had authority media quoted people familiar with the words said,Approved business behavior is Steve koen I.