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SEC Clears Newman, Chiasson To Return To The Industry

Law360, New York (May 18, 2015, 7:04 PM EDT) -- The U.S. Securities and Exchange Commission has cleared former hedge fund managers Todd Newman and Anthony Chiasson to return to the securities industry, more than six months after a New York federal appeals court overturned their criminal insider trading convictions and dismissed the indictments against them.

In a pair of orders issued Friday, the five-member commission revoked the industry bar it imposed against Newman and dismissed the ongoing proceedings against Chiasson, who had appealed an SEC judge’s initial decision ordering him banned from associating with broker-dealer, investment adviser and other securities firms.

“In seeking reconsideration of the Order, Newman argues that...

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