SEC wins insider case against former Fidelity trader

BOSTON Nov 24 (Reuters) - A federal jury in Boston convicted a former Fidelity trader of insider trading on Tuesday.

The jury found David Donovan engaged in insider trading in connection with Covad Communications Group Inc CCGIHC.UL by giving his mother nonpublic information about the company, the U.S. Securities and Exchange Commission said.

The case marks a major win for the SEC at a time the agency has been criticized for having failed to detect several Ponzi schemes. It also comes at a time the SEC is working on several other insider trading cases.

"This verdict is a victory for investors and it demonstrates that we will continue to hold Wall Street insiders accountable for insider trading," said David Bergers, the SEC's regional director in Boston said. (Reporting by Svea Herbst-Bayliss, editing by Leslie Gevirtz) ((Svea.Herbst@Reuters.com; +1 617 856 4331; Reuters Messaging: svea.herbst.reuters.com@reuters.net))