The Securities and Exchange Commission has upheld the dismissal of an administrative case against a former Wells Fargo trader after two commissioners split on whether the evidence proved he had engaged in insider trading.
The ruling came in an appeal by the commission’s enforcement division of an administrative law judge’s 2015 ruling dismissing the case against the former analyst, Joseph C. Ruggieri, who was accused of trading on tips supplied by a Wells Fargo analyst.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn