SEC critic Mark Cuban tweets commentary at agency's conference

Mark Cuban has criticized the commission since defeating its lawyers who brought him to trial on insider-trading charges.

Feb 21, 2014 @ 2:20 pm

Mark Cuban
+ Zoom
Mark Cuban

Mark Cuban has criticized the Securities and Exchange Commission since defeating its lawyers who brought him to trial on insider-trading charges. On Friday, he surfaced at one of its conferences and turned up the heat via Twitter.

Mr. Cuban, wearing a gray hoodie and jeans, sat in the audience of a conference in Washington where SEC Chairman Mary Jo White and other top regulators gave speeches on the agency's agenda. The Dallas Mavericks owner tweeted comments on their remarks, offering a mix of praise and criticism of Ms. White and SEC member Luis A. Aguilar.

“Love the fact that Commissioner Aguilar is CRUSHING the SEC on its turnover,” Mr. Cuban tweeted. “I'm liking this guy a lot.”

A jury in October found Mr. Cuban, 55, didn't commit insider trading when he sold his stake in an Internet company after learning about its plans to raise additional funds, which would have diluted his investment. Mr. Cuban compared the victory to “winning a Mavs championship” and criticized the agency's trial lawyers by name on Jay Leno's "Tonight Show."

Mr. Cuban said Friday that he's not seeking an audience with Ms. White and attended the conference to learn more about how the SEC operates. In a brief interview with reporters, he criticized the agency for blaming its problems on a lack of funding.

“Commissioner Aguilar said the same thing — there's no institutional knowledge anymore because of the turnover, and that creates a big problem,” he said. “It was obvious in my case.”

(Bloomberg News)

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

Cybersecurity threats advisers are seeing right now

The key threats advisers are seeing right now seem to change daily. Michelle Thetford of Schwab Advisor Services explains how to protect yourself and your clients.

Latest news & opinion

Alternative strategies boomed after crisis, but haven't been tested

Because the S&P 500 has outperformed, convincing clients they need protection is a hard sell.

7 ways advisers fixed clients' biggest financial dilemmas

Sometimes it takes creativity, along with knowledge and outside help, to get a client out of a jam.

LPL Financial buys NPH, a broker-dealer network with 3,200 advisers

The deal, part of which is based on the advisers and revenue that eventually will move from NPH, could potentially cost LPL $448 million.

3 things advisers should make sure their clients' children take to college

Advisers can help clients avoid scary and painful situations with kids age 18 and older.

Private equity investors zero in on the RIA business

P-E proves to be ready and willing to invest in RIAs, but many will be looking to sell in three to seven years.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print