SEC Launches Probe Of Trading Director's Departure

Law360, New York (June 16, 2010, 7:36 PM EDT) -- Under pressure from lawmakers, the U.S. Securities and Exchange Commission has revealed that it is investigating "issues of concern" surrounding a senior official's departure to electronic trading firm Getco LLC.

SEC Inspector General H. David Kotz on Tuesday sent a letter indicating the agency's probe to Sen. Charles Grassley, R-Iowa.

Grassley on Monday had called on the regulator to review the departure of Elizabeth King, an associate director in the SEC's Division of Trading and Markets, to the high-frequency trading firm.

The commission, Kotz said, “has...
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