The first suspects have been named in the SEC's investigation into the insider trading that is alleged to have occurred in the days leading up to the announcement of the giant TXU buyout deal. The Guardian reports on the husband and wife named by the SEC. No details yet on how they allegedly obtained the inside information.
Sunil Sehgal, director of a Wembley-based IT firm, Transputec Computers, and his wife Seema are the first people to be named in an investigation by the Securities and Exchange Commission , the Wall Street regulator, into unusual dealing in the run-up to TXU's takeover in February. The SEC says there were "highly suspicious purchases of speculative call options" in TXU, partly made through the London branch of the investment bank UBS, yielding profits of $5.3m for an unknown number of people involved.
And today's big First Data takeover? Deal Journal reports that there were lots of "funky movements" in the options and credit default swaps. More trouble ahead.
British couple named in US insider deal inquiry [Guardian]