Authorities investigate SEC lawyers accused of insider trading

05/15/2009 | Reuters

Federal criminal authorities are looking into two lawyers at the U.S. Securities and Exchange Commission who are accused of trading stock using insider information, a source said. A report from the SEC inspector general said the lawyers traded stock in a large financial-services company. "We take seriously even the suggestion that any SEC employee would engage in insider trading. We note that the inspector-general report neither accuses any SEC employee of insider trading nor concludes that any such conduct took place," an SEC representative said.

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