Former Countrywide VP Settles Insider Trading Case

Law360, New York (October 30, 2007, 12:00 AM EDT) -- Another former vice president of home lender Countrywide Financial Corp. has settled insider trading charges, agreeing to pay the U.S. Securities and Exchange Commission a total of $109,000 to bring an end to the suit.

One-time Countrywide vice president Quan Zhu reached the settlement with the SEC on Monday, agreeing to pay $35, 547.93 in disgorgement of his illegal trading profits, prejudgment interest of $2,196.33, and a civil money penalty of $71,095.86.

The settlement brings an end to a case in which the SEC alleged that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.