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SEC: Traders Agree To Pay More Than $920,000 To Settle Insider Trading Case

December 30, 2015 : Permanent Link

(HITC Business) The Securities and Exchange Commission has announced that two traders in China and Hong Kong have agreed to pay more than$920,000 to settle an insider trading case against them. Cousins and business associates Zhichen Zhou and Yannan Liu, whose assets were frozen by an emergency court order when the SEC’s complaint was filed against them last month, must disgorge their entire ill-gotten profits of $306,929.59 plus pay penalties of $306,929.59 each. The court approved the settlement today. The SEC’s complaint alleged that Zhou and Liu traded two health care company stocks (MedAssets and Chindex International) based on nonpublic information about their impending acquisitions by private equity firms….

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