SEC charges 14 in two inter-related insider trading scams


The staffers, who all worked at UBS Securities and Morgan Stanley, are accused of running a number of separate schemes. The combined profit of two of them was $15 million, the SEC complaint alleges.

Although separate schemes, the SEC argues that many of the accused individuals were involved in both the Morgan Stanley and UBS operations between 2001 and 2006, with insiders passing illicit information to Wall Street traders in exchange for cash. The SEC also alleges the schemes were highly sophisticated, involving the use of coded messages sent from mobile phones that would be regularly disposed of and replaced.

The SEC is seeking permanent injunctive relief, disgorgement of illicit profits and the imposition of civil monetary penalities.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here