The Securities and Exchange Commission May 23 sued and obtained an asset freeze order against an equity trader at Dallas-based investment adviser Cushing MLP Asset Management LP, alleging that he engaged in insider trading and fraudulently profited by placing his own trades before executing trades for his firm’s clients, the commission announced. (SEC v. Bergin).
Defendant Daniel Bergin “betrayed the trust of his clients by secretly using information about their trades to gain an unfair trading advantage and reap massive profits for himself,” Marshall S. Sprung, deputy chief of Enforcement Division’s Asset Management Unit, said in a May ...
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