Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

SEC Wraps Up 'Alcoholics Anonymous' Insider Trading Case

Bruce Carton | July 23, 2015
Last week, the SEC announced a settlement in its insider trading case against Timothy J. McGee, the final resolution of a multi-defendant case that flowed from the most unusual of betrayals. The SEC alleged that McGee, a former registered representative at Ameriprise Financial Services, Inc., learned of and profited from inside information about an upcoming merger "from a senior executive who was confiding in him through their relationship at Alcoholics Anonymous about pressures he was confronting at work."
According to the SEC, McGee learned about an upcoming merger of Philadelphia Consolidated Holding Corp. with Tokio Marine Holdings, Inc. from an insider at Philadelphia Consolidated who 
made the disclosure to McGee in confidential discussions he had with him, including after...
Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.