Story just hit the wires; details are thin.
WASHINGTON (MarketWatch) - The Securities and Exchange Commission on Wednesday charged a former Goldman Sachs employee and his father with insider trading about the investment bank's trading strategies, according to an agency release. The SEC's division of enforcement alleged that Spencer Mindlin obtained non-public details about Goldman's plan to purchase and sell large amounts of securities in the SPDR S&P Retail Exchange Traded Fund and then both he and his father, a certified public accountant, traded in four different securities underlying the ETF. "We are aggressively working to identify and prosecute illegal insider trading across multiple markets and derivatives products regardless of the complexity of the trading pattern that we have to unravel in our investigations," said Sanjay Wadhwa, associate director of the SEC's New York office.