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Ex-Bear Stearns Trader Settles Insider-Trading Claims

Law360 (November 21, 2007, 12:00 AM EST) -- A former Bear Stearns & Co. trader has agreed to pay almost $55,000 to settle the U.S. Securities and Exchange Commission’s claims that he took part in a wide-ranging insider-trading ring involving insiders from UBS Securities LLC.

On Tuesday, the SEC revealed that Judge P. Kevin Cassel of the U.S. District Court for the Southern District of New York had entered a final judgment against the former Bear Stearns rep, Andrew A. Srebnik, on Nov. 14.

Without admitting or denying the SEC’s claims, Srebnik agreed to...
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