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The weekly news source for investment management legal and compliance professionals

News August 12, 2019 Issue

Insider Trading Settlement Notes Destruction of Evidence by Branch Manager

Trading in a company’s stock and options based on material non-public information obtained from a friend who worked at that company will doubtless draw the attention of SEC enforcers. Destruction of subpoenaed evidence is likely to only add to investigators’ fervor and increase settlement penalties – as one branch manager at a duly registered adviser/broker-dealer found out.

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