SEC Fines Canadian for Trading on Merrill Tips

The U.S. Securities and Exchange Commission has sanctioned Martin Gollan, a Canadian scrap metal dealer, for allegedly trading on inside information supplied by a Merrill Lynch employee. Gollan is accused of executing profitable stock transactions based on tips supplied by Michael Goodman, a business associate whose wife worked as an administrative assistant at Merrill Lynch in Canada. Without admitting or denying the allegations, Gollan has agreed to pay more than $100,000 to settle the SEC’s charges

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