The Securities and Exchange Commission is launching a preliminary examination into whether an Standard & Poor's employees insider traded ahead of the downgrade, according to a report in the Financial Times.
The SEC has requested S&P disclose a list of all employees who were made aware of the ratings agency's plans to downgrade before it was made public last week, the FT said.
If someone from the S&P did in fact leak information, the agency, not just the individual, could be in serious trouble because of a little-known law from 2006...
Read more at http://www.businessinsider.com/sec-probing-insider-trading-at-s-and-p-2011-8
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