Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:SEC Opens Its First ETF Insider Trading Case Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 22, 2011

SEC Opens Its First ETF Insider Trading Case

News summary by MFWire's editors

The Securities and Exchange Commission (SEC) just opened its first insider trading case involving ETFs. Yesterday the regulatory agency charged that ex-Goldman Sachs trader Spencer Mindlin passed on to his accountant father, Alfred Mindlin, non-public information about big buy and sell orders pending for securities underlying the SPDR S&P Retail ETF (XRT). The SEC claims that between December 2007 and March 2008 the duo netted at least $57,000 from the trades, which were allegedly made in another family member's TD Ameritrade account.

The Associated Press, Bloomberg, Courthouse News Service, Reuters and the Wall Street Journal all covered the news.

The Mindlins' lawyer, Robert Knuts of Park & Jensen, countered that the son "suggested a trading strategy to his father and helped the father understand and execute the strategy."

"That strategy was not based on any confidential information obtained by the sun," Knuts told the Journal.

Spencer Mindlin worked on Goldman's ETF trading desk at the time.

The Journal reports that, according to an unnamed source, it was TD Ameritrade that tipped off the SEC, and the SEC complaint specifically cites some phone calls recorded by Ameritrade. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF In Focus - In Focus: Small Boards' Use of Skills Matrices, January 22
  2. IDC webinar - SEC Enforcement Trends: What Fund Directors Should Know, January 23
  3. ICI webinar - Legal and Compliance Career Opportunities in the Asset Management Industry, January 24
  4. MFDF 2025 Directors' Institute, Jan 27-29
  5. FSI OneVoice 2025, Jan 27-29
  6. IMEA webinar - 2025 Outlook, January 28
  7. Nicsa webinar - An Intro to Irish and Luxembourg Investment Platforms for US Asset Managers, January 29
  8. WE South - Dallas | Texas Stock Exchange, Politics, & Product Development, January 30
  9. 2025 ICI Innovate, Feb 3-5
  10. Nicsa webinar - AI In Operations: Boosting Productivity for Wealth & Asset Management Firms, February 5
  11. MFDF In Focus: Understanding Distribution - What the Data Can Tell You, February 6
  12. MFDF Director Discussion Series - Open Forum, February 10
  13. MFDF Director Discussion Series - Open Forum, February 11
  14. MMI Darden-in-Residence II, Feb 24-6
  15. 2025 MMI RIA Forum, February 27
  16. IDC Core Responsibilities of Fund Directors, February 27
  17. Citywire Scottsdale CIO Summit 2025, Feb 27-28
  18. Expect Miracles In Manhattan 2025, February 27
  19. T3 Technology Conference 2025, Mar 3-6
  20. IMEA Distribution Intelligence Summit, Mar 4-5
  21. Nicsa 2025 Strategic Leadership Forum, Mar 5-7
  22. Citywire Pro Buyer New York Due Diligence Retreat 2025, Mar 6-7
  23. MFDF 2025 Fund Governance & Regulatory Insights Conference, Mar 6-7
  24. MFDF 15(c) White Paper Webinar Series: Part 3 - Gartenberg Factors Analysis and Challenges, March 12
  25. ICI Investment Management Conference, Mar 16-19
  26. 2025 MMI Summit, Mar 27-28




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use