U.S. judge says Wells Fargo insider trading case may fall short

April 20, 2015 8:47 PM

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NEW YORK, April 20 (Reuters) - An administrative judge hearing an insider trading case against a former Wells Fargo & Co managing director cautioned on Monday that U.S. regulators may have fallen short of tough new requirements for proving insider trading.

U.S. Securities and Exchange Commission Administrative Law Judge Jason Patil delivered the warning to SEC lawyers after hearing arguments in a civil proceeding against Joseph Ruggieri.

Also read: Supreme Court rules for prosecutors in insider trading case

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