- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-06-30T14:37:00
The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) on Thursday announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an unnamed international payment processing company.
The CCO, Steven Teixeira, pleaded guilty to DOJ charges he obtained material nonpublic information from the laptop of his then-girlfriend, an executive assistant at a New York City investment bank. Between 2021 and 2022, Teixeira shared this information with friends, including Jordan Meadow, to generate illegal profits, the DOJ alleged. Meadow provided items of value, including a Rolex, to Teixeira in exchange for the information, per the DOJ.
Meadow was arrested and charged with six counts of securities fraud. He and Teixeira were each charged by the SEC with violating the antifraud provisions of the federal securities laws and face civil penalties, disgorgement orders, and officer-and-director bars.
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A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
Investment adviser Sound Point Capital Management will pay a $1.8 million fine to the Securities and Exchange Commission for failing to have written compliance procedures on handling material nonpublic information.
Westpac Banking Corp. was assessed a maximum fine of AUS$1.8 million (U.S. $1.2 million) to address charges levied by the Australian Securities and Investments Commission of insider trading related to an interest rate swap transaction.
German petrochemical parts supplier Aiotec agreed to pay $14.5 million to settle allegations that it engaged in a four-year conspiracy to dismantle and ship a plastics manufacturing plant owned by a U.S. company to Iran, in violation of U.S. sanctions.
Kiromic BioPharma will pay no fine to the Securities and Exchange Commission after self-reporting that it failed to disclose material information about two cancer drugs to investors.
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
