Last week, the SEC filed a headline-generating case against a former analyst with J.P. Morgan, claiming that the analyst tipped his friend with inside information about upcoming mergers and acquisitions of technology companies. The SEC alleged that the analyst, Ashish Aggarwal, his friend and another individual combined to make over $672,000 trading on the inside information.
In its Litigation Release announcing the case, the SEC included an interesting note that the Enforcement Division’s Market Abuse Unit was able to detect the insider trading “through trading data analysis tools in its Analysis and Detection Center.” As far as I can tell by searching the SEC website, this is the first time that an SEC press release or litigation release announcing an enforcement action has credited the Analysis and Detection Center.
