(Reuters) – Federal prosecutors are investigating whether a broker at Spartan Capital Securities traded on confidential information about planned mergers and acquisitions illegally obtained from Morgan Stanley, the Wall Street Journal reported on Wednesday.
Jordan Meadow’s communications with five people, including a former Morgan Stanley employee, are under the scanner, the report said, citing people familiar with the matter.
Prosecutors are looking into whether Meadow accessed the email account of the former Morgan Stanley employee, the report added.
Spartan Capital, Morgan Stanley and a lawyer for Meadow did not immediately respond to Reuters requests for comment.
The bank has not been accused of any wrongdoing, according to the WSJ report.
The investigation into possible insider trading, securities fraud and other offenses is being carried out by the Manhattan U.S. attorney’s office, the report said.
(Reporting by Niket Nishant in Bengaluru; Editing by Dhanya Ann Thoppil and Shailesh Kuber)