SEC Suspends Former VP For Improper Trades

Law360, New York (December 19, 2006, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has suspended a former portfolio manager after determining he took part in unauthorized trades that led to the loss of more than $415 million for pension funds and investors.

The SEC on Monday prohibited James Barlow Smith, former vice president of equity trading at Advanced Investment Management Inc., from having ties with an investment adviser for one year. The Pittsburgh, Pa.-based money management firm stopped running in December 2002.

Smith did not admit to or deny the allegations, but he...
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