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SEC Sues Former Goldman Compliance Employee for Insider Trading

Bruce Carton | November 25, 2015
The SEC announced an insider trading case today against a former Goldman Sachs employee who allegedly used his position in the Goldman compliance department to learn nonpublic information about upcoming client mergers. The SEC alleges that Yue Han, then an associate in Goldman’s compliance department, improperly used his access to information in the firm's e-mail system to make more than $450,000 in illicit profits. The SEC added that it had obtained an emergency court order freezing Han's assets and the accounts he used to place the illicit trades.
According to the SEC, Han's responsibilities included developing surveillance software designed to monitor investment bankers and other employees, including their emails, for potential misconduct such as insider trading. Han allegedly exploited the information he learned from these confidential e-mails to purchase securities in at least four...
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