’Fabulous Fab’ trial is a test for US watchdog

The trial of former Goldman Sachs bond trader Fabrice “Fabulous Fab” Tourre next week gives the US Securities and Exchange Commission an opportunity to prove that it can win big cases tied to the financial crisis.

The SEC claimed an 85 per cent success rate in all trials last year, but its critics have said that, when it comes to the financial crisis, its win rate has been dismal.

Tourre’s civil fraud trial, which starts in federal court in New York on Monday, could help silence those critics, but experts said the regulator is facing no easy task.

via Business feed http://www.scmp.com/business/banking-finance/article/1280928/fabulous-fab-trial-test-us-watchdog