Article: Watchdog Alleges Insider Trading At SEC

Article - Media

Watchdog Alleges Insider Trading At SEC

Liz Moyer

Forbes, 15 May 2009

The Securities and Exchange Commission is back under fire after the agency’s own watchdog alleged suspicious trading activity and possible insider trading by two staff attorneys.

SEC Inspector General David Kotz says he’s referred his findings to the Department of Justice, which he says is investigating along with the Federal Bureau of Investigation. As is its standard practice, the DOJ would neither confirm nor deny they are looking into the matter.

The report, dated March 3, details a two-year investigation of two SEC enforcement staff attorneys who may have traded on non-public information or engaging in insider trading in stocks of companies under investigation by the agency.

Read full article.