“Mr. Dowd was in clear violation of company policy and was terminated on Dec. 12, 2012, for behavior that the firm does not tolerate,” Jockle said.
Dowd began work at Morgan Stanley in June 2009, according to the Financial Industry Regulatory Authority. He worked from August 2005 to June 2009 at Citigroup Inc., according to Finra records.
The number of people sued by the SEC or charged with insider trading by the Justice Department has more than doubled since 2008, according to data compiled by Bloomberg. There were 56 in 2008, 96 in 2009, 67 in 2010, 104 in 2011 and 125 last year. Of those, 22 percent were linked to trades involving health-care stocks.
The criminal case is U.S. v. Dowd, 13-mj-6515, U.S. District Court, District of New Jersey (Newark). The SEC case is Securities and Exchange Commission v. Dowd, U.S. District Court, District of New Jersey.