Wachovia Broker Fined Over Trades In Gas Merger

Law360, New York (November 27, 2007, 12:00 AM EST) -- A Wachovia securities broker who refused to settle a U.S. Securities and Exchange Commission insider trading suit has been ordered to pay $346,000, after a district court judge ruled that he had made trades based on confidential information.

In a ruling handed down on Monday, Judge Ruben Castillo of the U.S. District Court for the Northern District of Illinois ordered Wachovia trader Mark Michel to pay a $346,000 penalty for making insider trades in the days leading up to the acquisition of gas distributor Blue Rhino...
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.