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SEC Employees Investigated for Suspicious Trading

By Mark H. Astarita, Esq.

The Securities and Exchange Commission  is examining whether two of its employees broke agency rules or tapped nonpublic information while making a high volume of trades. SEC Inspector General David Kotz said his office has reviewed more than two years of brokerage records to see if the investments were approved, properly reported and held for required amounts of time. The probe described in Kotz's semi-annual report to Congress, posted yesterday on the SEC's Web site, also examines whether trades were based on confidential information from casework, co-workers or agency resources. SEC Investigates Two of Its Own After Suspicious Volume of Trades

Full post as published by SECLaw.com on November 29, 2008 (boomark / email).