Insurance Co. Exec Settles SEC Suit Over Chemring Trades

Law360, New York (March 6, 2012, 5:43 PM EST) -- A top executive at California insurance agency ISU-Olson Duncan has agreed to settle a U.S. Securities and Exchange Commission suit accusing him of insider trading ahead of a Chemring Group PLC acquisition using information he gleaned from a client, the SEC said Monday.

The SEC said William F. Duncan, the 60-year-old former president of ISU-Olson Duncan Agency, figured out that client Hi-Shear Technology Corp. was about to be purchased when Hi-Shear asked for a type of policy that covers executives for merger-related claims.

Though the information...
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