On February 25th, the SEC filed settled insider trading charges against four individuals, John A. Foley, Aaron M. Grassian, Timothy L. Vernier, and Bradley S. Hale, for their roles in an alleged pattern of insider trading and tipping in the securities of four public companies that yielded illegal profits totaling $210,580.62. All four defendants have agreed to settle the Commission's charges without admitting or denying the allegations. Separately, a fifth individual, Tara R. Eisler, was named in a related settled administrative proceeding. The SEC alleged that Foley, an employee benefits specialist at Deloitte, learned through his work for Deloitte clients, material, non-public information concerning three companies and traded in all three issuers' securities based on that information. Foley also tipped his friend Vernier concerning all, and Grassian concerning part, of this information; and both men traded on Foley's communications. Grassian, in turn, tipped Foley concerning the acquisition of a fourth company after learning of that pending acquisition from his friend and former colleague, Hale, who worked on the acquisition. According to the Complaint, Grassian traded on Hale's tips for himself, and also passed them on to Foley, who, in turn, both traded on the information and also tipped Vernier and others, who also traded. The Complaint further alleges that Vernier substantially assisted Foley's insider trading violations by allowing Foley to trade through Vernier's account. Finally, the Complaint alleges that, since one of the companies was a Deloitte audit client and Foley served on the audit team at the time of the trading and tipping, Foley also committed, and caused his firm to commit, an auditor-independence violation, and caused related issuer-reporting violations by the issuer. Defendants have consented to the entry of judgments requiring, among other things, for Foley to pay disgorgement of $125,538.61, plus prejudgment interest of $18,697.89, with no civil penalty being imposed against him based on his demonstrated inability to pay; Vernier would pay disgorgement of $50,285.08, plus prejudgment interest of $6,320.29 and a civil penalty of $23,138.07, with no further civil penalty being imposed based on his demonstrated inability to pay; Grassian would pay disgorgement of $34,756.93, plus prejudgment interest of $4,768.39 and a civil penalty of $34,756.93; and no civil penalty would be imposed upon Hale, based on his demonstrated inability to pay. SEC v. Foley, Lit.Rel.No. 21425. In the administrative proceedings Eisler, without admitting or denying the allegations, consented to the entry of a cease-and-desist order finding that she permitted Foley to utilize an on-line brokerage account in her name to trade in the securities of a Deloitte client in advance of its acquisition. In the Matter of Tara R. Eisler, SEC Release No. 34-61586.