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SEC Accuses Lobbyist Of Insider Trading

Law360 (June 1, 2006, 12:00 AM EDT) -- The Securities and Exchange Commission accused a Pennsylvania lobbyist and businessman of insider trading Wednesday, saying he gave a former employee confidential information about a stock before its price plummeted.

The SEC alleges that Frederick W. Anton III, now the CEO of the Pennsylvania Manufacturers’ Association, which lobbies on behalf of manufacturing companies, knew about the problems of PMA Capital Corporation because he was chairman of the board.

The SEC civil complaint, filed in the Eastern District of Pennsylvania, alleges that beginning in 2000, a subsidiary...
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