SEC v. Kenneth G. Miccio (insider trading, 2025)

Settled

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In January 2025 the Securities and Exchange Commission settled with Kenneth Miccio, finding that he bought Maxar Technologies securities between December 12 and 15, 2022 on a tip from Matthew Forlano, who had it through Stephen Forlano Jr. from investment bank analyst Anthony Viggiano. Miccio agreed to a cease-and-desist order, $10,023 in disgorgement, $1,179.55 in interest and a $10,023 penalty.

The record

What was ordered

Civil penalty

$10k

Disgorgement

$10k

Prejudgment interest

$1.2k

Total relief

$21.2k

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 Securities and Exchange Commission issued this settled order on January 24, 2025 (Release No. 34-102266).

The order finds that Viggiano learned of the planned acquisition by November 15, 2022 and that the tip passed through two intermediaries before reaching Miccio. Maxar agreed to be acquired on December 16, 2022.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

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. 2025-01-24 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.