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.
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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.
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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.