Tuesday, October 3, 2023 | Back issues
Courthouse News Service Courthouse News Service

Bank Analyst Settles Inside-Trading Charge

CHICAGO (CN) - A former Banco Santander analyst in Madrid will pay $625,000 to settle inside-trading charges, the SEC said Monday.

The SEC sued Juan Jose Fernandez Garcia in August 2010, claiming used inside information to trade in shared of a takeover target involving a client Santander advised: BHP Billiton's offer to acquire Potash Corp. of Saskatchewan. Fernandez made $576,033 from the illegal trade, the SEC said.

The settlement requires approval from a federal judge in Chicago.

Categories / Uncategorized

Read the Top 8

Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.