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SEC staffer charged with lying about his stock holdings

Tuesday, 19 Nov 2013 | 12:49 PM ET
Joshua Roberts | Bloomberg | Getty Images

A U.S. Securities and Exchange Commission examiner was criminally charged on Tuesday for making false statements about his stock holdings that were prohibited under SEC ethics rules, U.S. prosecutors said.

(Read more: SAC Capital's Steinberg faces insider trading trial)

Steven Gilchrist, a staffer in the SEC's New York office, was arrested on Tuesday morning and is due to appear in court later Tuesday afternoon, said U.S. Attorney for the Southern District Preet Bharara and SEC Inspector General Carl Hoecker in a joint statement.

Javers: Insider trading allegations at the SEC
CNBC's Eamon Javers says the Wall Street Journal is reporting federal prosecutors are looking into SEC employee's proper disclosure of holdings and assets.

(Read more: Feds probe NY SEC staff investments)

According to the criminal complaint, Gilchrist "falsely certified'' in an ethics document that he did not hold prohibited stocks in various banks and broker-dealers regulated by the SEC, when in fact he had not divested his ownership.

—By Reuters

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