Consumer Law

Are SEC Employees Trading on the Agency's Inside Information or Otherwise Abusing Their Power?

By Brian Wolfman

This front page story in today's Washington Post concerns a report on the alleged conduct of employees of the Securities and Exchange Commission. Here's a brief excerpt to give you a sense of the story:

A Securities and Exchange Commission official attempted "to intimidate and influence" a family member's broker on multiple occasions by invoking her position, potentially violating agency rules, according to the agency's inspector general.* * * Another investigation found that some of the agency's enforcement lawyers may have traded the stocks of Citigroup, United Health Group and other firms around the time the agency opened investigations into the companies.

Full post as published by CL&P Blog on May 17, 2009 (boomark / email).