Not quite sure what to make of this. The U.S. Securities and Exchange Commission just published a new administrative follow-on order barring Anthony Viggiano, a former Goldman Sachs analyst who tipped two friends with inside information, from acting as a broker, dealer, investment adviser, etc. with a right to reapply in 10 years. I didn’t remember any similar bars (that is, with the 10-year right to reapply) but it turns out there have been at least two others – one in 2024 and one earlier this year. That said, Viggiano already pleaded guilty in a parallel criminal case, in addition to settling with the SEC. Why this merits less than a permanent bar is a head-scratcher, though Viggiano’s youth (he’s just 28) probably has something to do with it. I didn’t see anything suggesting Viggiano cooperated in the case. I’ll be interested to see if the use of these types of long, but not permanent, bars becomes more common.
Source: “Why this merits less than a permanent bar is a head-scratcher” – Andrew Feller on LinkedIn