SEC Nabs Post-It Note Eater For Insider Trading

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Mark Melin
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Updated on
SEC

The Securities and Exchange Commission recently announced a settlement where insider information was passed via napkins or on post-it notes at New York’s Grand Central Terminal and then the perpetrator ate the evidence.   SEC settles with Post-It Note eating inside trader The SEC today announced it had settled with Brooklyn resident Frank Tamayo for a scheme involving three people passing secret notes to one another that contained non-public information about those involved in pending takeover battles. Tamayo was identified as the middleman in accepting notes with a ticker symbol on them of an acquisition target. The notes were being passed…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.