Reuters – The U.S. Securities and Exchange Commission (SEC) filed suit on Wednesday against a former Fidelity Investments trader and a former employee of a broker-dealer firm, charging them with defrauding the investment giant via illegal trades.
In a complaint filed with the U.S. District Court in Boston, the SEC charged ex-Fidelity trader David Donovan Jr. and David Hinkle, an ex-representative of Capital Institutional Services, of gaining access to confidential information about Fidelity’s intended trades and profiting by trading ahead of Fidelity.
