An RBC analyst was just charged with insider trading barely a year after finishing undergrad
- Federal prosecutors have accused Bill Tsai, a junior analyst at RBC Capital Markets, with insider trading.
- The charges come roughly one year after Tsai completed his undergrad studies at the NYU Stern School of Business.
- The SEC filed a related civil lawsuit in Manhattan Monday, which said Tsai traded on merger knowledge he gained at RBC before the deal was publicly announced on April 15.
- Tsai's LinkedIn page shows he served as student council president of NYU's undergraduate business school in 2018. He joined RBC in July later that year.
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Bill Tsai, a junior analyst at RBC Capital Markets, was charged with insider trading on Monday just one year after graduating from college, according to a release from the Securities and Exchange Commission.
The SEC also filed a related civil lawsuit in Manhattan. Tsai is accused of trading options before the April 15 announcement that Siris Capital Group would acquire digital printing company Electronics for Imaging.Tsai - who completed his undergraduate studies at the NYU Stern School of Business in 2018 - "learned of the impending acquisition through his work," the complaint alleged. He is accused of doing so from a personal account he had previously concealed from his employers at RBC. Tsai's actions netted him a profit of $98,750, according to the SEC's release.
Tsai's LinkedIn page shows he served on NYU Stern's student council from September 2015 to May 2018, serving as president in 2018. He joined RBC as an investment banking analyst in July 2018, according to LinkedIn.
"RBC has a zero tolerance approach to any breach of the law or our code of conduct," RBC Capital Markets spokeswoman Sanam Heidary said in a statement to Bloomberg. "We have cooperated fully with law enforcement as it relates to this matter."
Heidary also said RBC has suspended Tsai.
Siris, a private equity firm, secured some of its debt financing from RBC Capital for its acquisition of Electronics for Imaging. Siris purchased the digital printing company for about $1.7 billion in an all-cash deal.Now read more markets coverage from Markets Insider and Business Insider: