SEC v. Dan (“Alice”) Zhang, CPA (insider trading, 2017)

Settled

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In June 2017 the SEC settled administrative proceedings against Dan (Alice) Zhang, a Deloitte director, finding she bought Rofin-Sinar shares through a relative's account after learning from an audit client that it would acquire the company. She was ordered to pay $7,451.05 disgorgement, $200.43 interest and a $7,451.05 penalty, and was denied the right to practise before the Commission.

The record

What was ordered

Civil penalty

$7.5k

Disgorgement

$7.5k

Prejudgment interest

$200

Total relief

$15.1k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Commission found, on Zhang's consent, that as a Deloitte & Touche director on the Coherent audit team she learned that Coherent planned to buy Rofin-Sinar Technologies, and purchased 1,110 Rofin-Sinar shares in a close relative's brokerage account before the March 16, 2016 announcement. The stock rose 37 percent the next day, giving a profit of $7,451.05.

The order requires disgorgement of $7,451.05, prejudgment interest of $200.43 and an equal civil penalty, and denies her the privilege of appearing or practising before the Commission as an accountant.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2017-06-07 Administrative proceeding instituted (102e)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.