SEC Obtains Consent Judgments Against Benjamin Taylor and Darina Windsor in Insider Trading Case

SEC Litigation Releases

Filed February 17th, 2026

Detected March 28th, 2026

Summary

The SEC announced final consent judgments against Benjamin Taylor and Darina Windsor, former investment bankers, in an alleged insider trading scheme. The judgments permanently enjoin them from violating securities laws and order disgorgement and civil penalties totaling $550,000.

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What changed

The U.S. District Court for the Southern District of New York entered final consent judgments against Benjamin Taylor and Darina Windsor, former investment bankers, resolving an SEC enforcement action alleging a multi-year insider trading scheme. The judgments permanently enjoin Taylor and Windsor from violating Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and related rules. Taylor is ordered to pay $500,000 in disgorgement, and Windsor is ordered to pay $50,000 in disgorgement and a $50,000 civil penalty.

These final judgments conclude the SEC's action against these individuals. Compliance officers should note the specific violations cited (Sections 10(b) and 14(e) and Rules 10b-5 and 14e-3) and the significant financial penalties imposed. The case highlights the SEC's continued focus on prosecuting international insider trading schemes involving misappropriated material nonpublic information and the use of intermediaries to facilitate trades.

What to do next

Review internal policies and procedures related to handling material nonpublic information.
Reinforce training for employees involved in corporate transactions regarding insider trading prohibitions.
Assess current compliance controls against the violations cited in the SEC's complaint.

Penalties

Benjamin Taylor ordered to pay disgorgement of $500,000. Darina Windsor ordered to pay disgorgement of $50,000 and a civil penalty of $50,000.

Source document (simplified)

Benjamin Taylor and Darina Windsor

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26509 / March 27, 2026

Securities and Exchange Commission v. Benjamin Taylor, et al., No. 19-cv-09744 (S.D.N.Y. filed Oct. 22, 2019)

SEC Obtains Final Consent Judgments as to Benjamin Taylor and Darina Windsor in Alleged Insider Trading Case

On February 17, 2026, the U.S. District Court for the Southern District of New York entered final consent judgments as to Benjamin Taylor and Darina Windsor, two former investment bankers charged by the SEC in an alleged multi-year insider trading scheme.

According to the SEC’s amended complaint, filed on March, 27, 2020, Taylor and Windsor, while working as investment bankers in London, participated in an international insider trading scheme that netted its participants tens of millions of dollars in illicit profits from trading in the securities of U.S. companies. As alleged, Taylor and Windsor misappropriated material nonpublic information about impending corporate transactions from the London-based investment banking firms where they were employed, tipped that information through an intermediary to other individuals who used it to trade securities, and shared in the resulting proceeds of the illegal securities transactions.

The final judgments permanently enjoin Taylor and Windsor from violating Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and Rules 10b-5 and Rule 14e-3 thereunder, order Taylor to pay disgorgement of $500,000, and order Windsor to pay disgorgement of $50,000 and a civil penalty of $50,000.

The SEC’s investigation and litigation were conducted by Michael Foster of the SEC’s Chicago Regional Office, Rua Kelly of the SEC’s Boston Regional Office, and Assunta Vivolo, John Rymas, and Joseph Sansone of the Division of Enforcement’s Market Abuse Unit. The SEC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York, the Federal Bureau of Investigation, the Financial Industry Regulatory Authority, and the UK Financial Conduct Authority.