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Swiss Trader at Heart of Insider Ring Reaches Deal With SEC

  • Marc Demane Debih, ex-Geneva-based trader, helped prosecutors
  • Lawsuit may indicate Demane Debih is finishing his cooperation
SEC Open Meeting On "Dark Pools"

Photographer: Andrew Harrer/Bloomberg

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A former trader who admitted to a central role in an international insider trading scheme and cooperated with U.S. prosecutors reached a deal in a suit filed against him by the Securities and Exchange Commission.

Marc Demane Debih, 51, agreed to an order barring him from violating U.S. securities fraud laws, the SEC said in a statement on Tuesday. He’ll also be subject to civil penalties, the amount of which will be decided by a judge at a later date.