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SEC alleges insider trading ahead of CNOOC-Nexen deal

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WASHINGTON, July 27 | Fri Jul 27, 2012 5:05pm EDT

WASHINGTON, July 27 (Reuters) - The U.S. Securities and Exchange Commission said it obtained a court order on Friday to freeze the assets of traders who it said traded on inside information ahead of China-based CNOOC Ltd.'s announcement it would acquire the Canada-based Nexen Inc.

The traders used accounts in Singapore and Hong Kong to reap more than $13 million in illegal profits, the SEC said.
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