U.S. SEC charges ex-Goldman compliance analyst with insider trading

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NEW YORK, Sept. 29 (Businesshala) – A US regulator on Wednesday accused a former Goldman Sachs Group Inc. (GS.N) senior compliance analyst of insider trading, saying he engaged with banking clients while working in Warsaw, Poland. illegal trade.

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The US Securities and Exchange Commission said 35-year-old José Luis Casaro Sanchez of Spain obtained non-public information about his employer’s clients through his work in a “control room” that could handle pending mergers, acquisitions and funding. used to track

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According to an SEC complaint filed in US District Court in Manhattan, Caesaro’s duties included updating the bank’s confidential “grey list” that tracks customers involved in such transactions.

The regulator said Casero used brokerage accounts opened in its parent’s name to pre-trade significant transactions at least 45 times from September 2020 until its May 2021 resignation, generating profits of approximately $472,000 .

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Wednesday’s lawsuit does not identify Goldman by name, but does identify Goldman clients whose shares Caesaro allegedly traded.

The SEC said that at least nine trades of Caesaro related to the merger involving special purpose acquisition companies.

“We condemn this reprehensible behavior that violates our standards of conduct and business principles,” Goldman said in a statement. “We are cooperating fully with the SEC.”

Casaro did not immediately respond to a request for comment. A lawyer for them could not be immediately identified.

The SEC is also seeking to freeze assets against Cassaro and his parents, both of whom are “relief defendants.” It said all three are Spanish citizens who are believed to have lived in Granada.

According to LinkedIn, Casaro worked for Goldman from September 2019 to June 2021 and now works for UBS Group AG (UBSGS).

UBS had no immediate comment.

Reporting by Jonathan Stempel in New York; Additional reporting by Jody Godoy in New York and Chris Prentiss in Washington, DC Editing by Marguerita Choy


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