SEC's BP Probe Said To Focus On Insider Trading

Law360, New York (August 2, 2010, 7:05 PM EDT) -- The U.S. Securities and Exchange Commission's probe of BP PLC is reportedly centering on potential insider trading that took place at the company after the April 20 Deepwater Horizon explosion and spill.

The SEC is specifically looking into whether individuals profited on nonpublic information at BP, Reuters reported Monday, citing two sources familiar with the probe.

The agency is also investigating whether the company made necessary disclosures regarding the hazards of deepwater drilling in the Gulf of Mexico, according to Reuters.

A spokesman for the SEC...
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