‘Crooks’ Aided by Insider-Trading Ruling, AMF Chief Says (1)

The head of France’s stock-market regulator warned that privacy concerns could jeopardize the country’s biggest insider-trading probe, saying that a court decision may vindicate “obvious crooks.”

Robert Ophèle, chairman of the Autorité des Marchés Financiers, railed against the decision of a French court that questioned whether investigators should have obtained proper authorization before requesting phone records for the traders at the heart of the probe. The case has been referred to the European Union’s top court for review.

At least eight people have been charged in insider-trading cases focused on a takeover of U.S. chemical producer Airgas Inc. ...