Chetram Balli

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26685 / November 12, 2026

Securities and Exchange Commission v. Balli, No. 26-cv-7294 (E.D.N.Y. filed Nov. 12, 2026)

SEC Charges Law Firm Employee Alleging Repeated Insider Trading

On November 12, 2026, the Securities and Exchange Commission charged Chetram Balli, an employee of a large international law firm, for allegedly using material nonpublic information to trade the stocks of the law firm’s clients and other entities involved in upcoming transactions.

According to the SEC's complaint, Balli is employed as a document processing specialist at the New York office of a large international law firm with a substantial mergers and acquisitions practice. Through his employment, Balli allegedly obtained material nonpublic information about forthcoming announcements of mergers and acquisitions involving the law firm’s clients. As alleged, between May 2025 to October 2026, despite his employer’s prohibition on engaging in insider trading, Balli allegedly traded on the basis of material nonpublic information on at least eight occasions and generated approximately $55,000 in ill-gotten profits.

The SEC's complaint, filed in the U.S. District Court for the Eastern District of New York, charges Balli with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint seeks injunctive relief, disgorgement with prejudgment interest, and civil monetary penalties.

On November 12, 2026, Balli was charged in a parallel criminal action brought by the U.S. Attorney's Office for the Eastern District of New York.

The SEC's investigation originated from the Enforcement Division's Market Abuse Unit, which used Consolidated Audit Trail (CAT) data to analyze Balli's suspicious trading activity.

The SEC's investigation was conducted by David C. Austin, John S. Rymas, and Assunta Vivolo of the Market Abuse Unit and supervised by Market Abuse Unit Chief Joseph G. Sansone. The SEC's litigation will be led by Mr. Austin, Ms. Vivolo, and Todd Brody. The SEC appreciates the assistance of the U.S. Attorney's Office for the Eastern District of New York, the FBI, and the Financial Industry Regulatory Authority.