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Ex-S&P Index Manager Pleads Guilty to Insider-Trading Plot (1)

Dec. 17, 2020, 8:02 PM

A former index manager at S&P Global Inc. pleaded guilty to insider trading, admitting he traded securities in another person’s account based on confidential information about which companies were being added or taken out of indexes.

Yinghang “James” Yang, of Queens, New York, said the scheme ran from April to October last year and generated more than $912,000 in illegal profits, $105,000 of which he kept for himself.

“I had access to information about stocks that would be included into and taken out of the indices, before that information became officially available to the public,” Yang told U.S. Magistrate Judge ...