(Bloomberg) -- Barclays Plc, Europe's biggest underwriter of corporate bonds, used confidential information from serving on creditors' committees to trade securities of bankrupt companies, two people with knowledge of the government investigation said.
The U.S. Securities and Exchange Commission has evidence that Barclays profited from advance knowledge of market-moving developments its analysts and traders received from the bankruptcy panels, said the people, who declined to be identified because the three-year probe isn't public. London- based Barclays is in talks to settle SEC allegations that it broke insider-trading rules, they said.
Read more at Bloomberg Bonds News
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