On September 29th, the Second Circuit vacated the district court's order requiring Raj Rajaratnam and Danielle Chiesi to disclose to the SEC wiretapped conversations provided to them by prosecutors in their related criminal insider trading case. Although the disclosure of wiretap conversations by defendants in a civil enforcement proceeding to a civil enforcement authority is not prohibited, the trial court exceeded its discretion in ordering disclosure without a determination on the wiretaps' legality and without limiting disclosure to relevant conversations. SEC v. Rajaratnam.