Insider Trader Gets Jail as SEC Reviews Tool That Caught Him (1)

An Oregon retiree was ordered to spend a year behind bars for conspiring with a Nuveen LLC trader in a $47 million insider trading scheme — a case flagged by a controversial SEC tracking tool the Trump administration is considering reining in.

Alan Williams, 79, was sentenced Monday by a federal judge in Manhattan. Both he and the former Nuveen trader, Lawrence Billimek, pleaded guilty in 2023. Billimek, 54, received a nearly six-year sentence in May for tipping off Williams to thousands of trades by Nuveen, a unit of TIAA that manages $1.3 trillion in assets. US District Judge ...