SEC v. Seth Markin and Brandon Wong (insider trading, 2022)

Settled

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In July 2022 the SEC charged Seth Markin and Brandon Wong with trading Pandion Therapeutics shares ahead of its 2021 acquisition by Merck. On September 12, 2024 Markin consented to a final judgment that enjoins him and imposes a $37,000 civil penalty. I opened no primary document for Wong's outcome.

The record

What was ordered

Civil penalty

$37k

Disgorgement

—

Prejudgment interest

—

Total relief

$37k

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 announced this matter on July 26, 2022 as release LR-25451. The respondents named are Seth Markin and Brandon Wong (2 individuals, 0 entities).

This library tags the matter as insider trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

Outcome as to Markin. The final judgment against Seth Markin (S.D.N.Y. No. 22 Civ. 6276, signed September 12, 2024) was entered on his consent and without findings. It permanently enjoins him from violating Section 10(b), Rule 10b-5, Section 14(e) and Rule 14e-3, and orders a civil penalty of $37,000 under Section 21A of the Exchange Act. The judgment shows no disgorgement or prejudgment interest. The docket document does not state a criminal sentence.

What this does not cover. Co-defendant Brandon Wong is not covered by the document I opened. Secondary reports say a consent judgment was entered against him, but I did not open a primary source, so his outcome is not recorded here.

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. 2022-07-26 Litigation release published
2. 2024-09-12 Final consent judgment entered as to Seth Markin ($37,000 civil penalty)

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 litigation release
• Final judgment as to Seth Markin (S.D.N.Y.)

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.