SEC v. Honglan Wang (insider trading, 2018)

Settled

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In August 2018 the SEC settled proceedings against MyoKardia scientist Honglan Wang, who bought 8,600 shares before positive drug trial results and made $134,000, then self-reported. She agreed to pay $134,000 disgorgement, $3,698 interest and a $67,000 penalty, half the usual amount.

The record

What was ordered

Civil penalty

$67k

Disgorgement

$134k

Prejudgment interest

$3.7k

Total relief

$205k

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 that Wang learned of the trial result through her employment, bought the shares, and sold on August 7, 2017 when the price rose 83 percent. She reported her trading to staff before an investigation had begun. On her consent, the order imposes disgorgement of $134,000, interest of $3,698 and a penalty of $67,000.

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. 2018-08-16 Administrative proceeding instituted (cease-and-desist)

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.