Article: SEC CHARGES WALL STREET LAWYERS AND TRADERS IN $20 MILLION INSIDER TRADING SCHEME

WASHINGTON, Nov. 5 -- The Securities & Exchange Commission issued the following press release:

The Securities and Exchange Commission today charged a pair of lawyers for tipping inside information in exchange for kickbacks as well as six Wall Street traders and a proprietary trading firm involved in a $20 million insider trading scheme.

The SEC alleges that Arthur J. Cutillo, an attorney in the New York office of international law firm Ropes & Gray LLP, had access to confidential information about at least four major proposed corporate transactions in which his firm's clients participated. Through his friend and fellow attorney Jason Goldfarb, Cutillo tipped this inside information ...

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