SEC Attorneys Targeted In Insider Trading Probe

Law360, New York (May 15, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission lacks a compliance system for making sure its own employees don’t engage in insider trading, and federal prosecutors and the FBI are investigating possible insider trading by two SEC attorneys, a report from the agency's Office of Inspector General said.

According to the March 3 report, which was obtained by CBS News, the Inspector General’s investigation, which stretches back to January 2008, revealed “suspicious activity, appearances of improprieties, and evidence of possible trading on nonpublic information and/or potential insider trading”...
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