More Insider Trading allegations from the SEC. This time it is a Goldman Sachs employee who worked on Goldman's ETF desk. According to the Commission's allegations, the defendant obtained non-public details about Goldman’s plans to purchase and sell large amounts of securities underlying the SPDR S&P Retail ETF (XRT). He tipped his father, and they then traded those securities.
The case marks the SEC’s first insider trading enforcement action involving ETFs.
