Mitchel Guttenberg, 41, an institutional clientmanager at UBS Securities, was charged with passing material--nonpublic information--to traders Erik Franklin, 39, formerly of Bear Stearns, and David Tavdy, 38, formerly of Assent, a New York broker-dealer.
As for that UBS tipping case, 12 of the defendants have settled or pleaded guilty, including Mitchel Guttenberg, the former institutional clientmanager of UBS's research department who was accused of selling upcoming downgrade tips to hedge fund clients in a scheme hatched with a friend at New York's Oyster Bar.