U.S. SEC charges ex-Goldman compliance analyst with insider trading
NEW YORK, Sept 29 (Reuters) – A U.S. regulator on Wednesday charged a former Goldman Sachs Group Inc senior compliance analyst with insider buying and selling, saying he made unlawful trades involving banking purchasers whereas working in Warsaw, Poland.
The U.S. Securities and Alternate Fee stated Jose Luis Casero Sanchez, 35, of Spain, realized materials nonpublic details about his employer’s purchasers by means of his work in a “management room” that tracked pending mergers, acquisitions and financings.
Casero’s duties included updating the financial institution’s confidential “Gray Checklist,” which tracked purchasers concerned in such transactions, in keeping with an SEC grievance filed with the U.S. District Court docket in Manhattan.
The regulator stated Casero used brokerage accounts opened in his mother and father’ names to commerce forward of great transactions a minimum of 45 occasions from September 2020 till his Might 2021 resignation, reaping almost $472,000 of revenue.
Wednesday’s lawsuit doesn’t determine Goldman by title, however recognized Goldman purchasers in whose shares Casero allegedly traded.
A minimum of 9 of Casero’s trades associated to mergers involving particular goal acquisition corporations, the SEC stated.
“We condemn this egregious conduct, which violates our requirements of conduct and enterprise ideas,” Goldman stated in a press release. “We’re absolutely cooperating with the SEC.”
Casero didn’t instantly reply to a request for remark. A lawyer for him couldn’t instantly be recognized.
The SEC can be looking for an asset freeze towards Casero and his mother and father, each of whom are “reduction defendants.” It stated all three are Spanish residents believed to have lived in Granada.
In response to LinkedIn, Casero labored for UBS Group AG from Feb. 2018 to April 2019, earlier than becoming a member of Goldman. He has not since labored at UBS, an individual near the matter stated, although LinkedIn stated he’s “at the moment” employed there.
Reporting by Jonathan Stempel in New York; Extra reporting by Jody Godoy in New York and Chris Prentice in Washington, D.C.; Enhancing by Marguerita Choy
:
