Authorities Inquire About Alleged Insider Trading At SEC

Two U.S. Securities and Exchange Commission employees are reportedly under investigation by federal authorities for allegedly using insider information to trade stocks, according to Reuters.

A report by the SEC's internal watchdog alleges that the two SEC lawyers traded in stock of a large financial services company despite being told by another SEC employee of ongoing investigations of that company, CBS News reported.

An SEC spokesman said: "We take seriously even the suggestion that any SEC employee would engage in insider trading. We note that the inspector general report neither accuses any SEC employee of insider trading nor concludes that any such conduct took place."

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