Today, the SEC charged John Gray, previously an analyst at Barclays Capital, and friend Christian Keller with trading on confidential merger information supplied by Keller. An attempt to hide the trades was made by placing them in the name of Gray’s friend Kyle Martin. Gray also told Aaron Shepard about the merger. All four have agreed to settle with the SEC by paying more than $1.6 million combined. The first trade was made while Keller was financial analyst at Applied Materials. In 2012, Keller left Applied Materials (Nasdaq: AMAT) and joined Rovi Corporation (Nasdaq: ROVI) as VP for investor relations and finance, and the scheme continued as the four would trade ahead of negative news announcements about Rovi securities. ROVI is down .26% today. To read more about the story click here.