TCW's founder just beat back an insider trading accusation overseas. Bloomberg's Heather Smith reports that the Autorite des Marches Financiers cleared TCW founder Robert Day, who resigned from the board of Societe Generale (TCW's parent) on December 31, "of any wrongdoing in the case," even as it fined SocGen's former investment banking chief 100,000 euros in the same case.

Day's spokesman, Josh Pekarsky, told Bloomberg that Day "is very pleased" with the AMF's decision and "has maintained from the outset that his share sales were appropriate." He sold 6,000 SocGen shares on August 21, 2007. 

Edited by: Neil Anderson, Managing Editor


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