SEC Settles Insider Trading Charges Against Downstream Tippee of Former Financial Industry Analyst

ADMINISTRATIVE PROCEEDING

File No. 3-22443

January 24, 2025 – The Securities and Exchange Commission today announced settled charges against Kenneth Miccio for illegally trading securities of Maxar Technologies, Inc. based on information that originated from a financial industry analyst.

According to the SEC’s order, Miccio received material nonpublic information about the acquisition of Maxar from his friend Matthew Forlano.  Mr. Forlano had obtained the information from his nephew, Stephen Forlano, Jr., who, in turn, had received the information from his close friend Anthony Viggiano, a former financial industry analyst who then worked at a global investment bank.  The SEC previously charged Mathew Forlano, Stephen Forlano, Jr., and Anthony Viggiano with insider trading.  See SEC v. Viggiano, et al., No. 1:23-cv-08542 (S.D.N.Y., filed Sept. 28, 2023) and In the Matter of Matthew P. Forlano, Exch. Act Rel. No. 100978 (Sept. 9, 2024).  The SEC’s order against Miccio finds that after obtaining material nonpublic information about the potential acquisition of Maxar, Miccio used that information to purchase Maxar securities and generate ill-gotten profits of $10,023.

The order finds that Miccio violated the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.  Without admitting or denying the order’s findings, Miccio consented to a cease-and-desist order in which he agreed to pay $10,023 in disgorgement, $1,179.55 in prejudgment interest, and a penalty of $10,023.

The SEC’s investigation was conducted by Jeffrey E. Oraker and Mark L. Williams, with assistance from John Rymas, and was supervised by Danielle R. Voorhees and Joseph G. Sansone, all of the SEC’s Market Abuse Unit.