SEC v. Thomas E. Meade (2014)
Settled
Checked against the primary document on October 3, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In 2014, the Securities and Exchange Commission settled an action with Thomas E. Meade, the president and chief compliance officer of Private Capital Management, over compliance failures that let an employee's insider trading go undetected. The release records a civil penalty of $100,000.
The record
| Agency | SEC |
|---|---|
| Release number | 3-15927 |
| Date filed | 2014-06-11 |
| Date resolved | 2014-06-11 |
| Status | settled |
| Asset class | bonds, equities |
| Criminal parallel | Yes: convicted (H. Clayton Peterson, his father and a hedge fund manager, who pleaded guilty to the insider trading Meade's firm failed to detect; Meade himself was not charged), U.S. District Court, Southern District of New York |
| Defendants | Thomas E. Meade |
| Cited as charged or alleged | Advisers Act s.204A ; Advisers Act s.206 |
| Techniques |
What was ordered
- Civil penalty
- $100k
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- $100k
- Alleged gain
- —
What is alleged to have happened
the Securities and Exchange Commission announced this matter on June 11, 2014 as release IA-3855. The respondent named is Thomas E. Meade (1 individual). The Commission found that Meade, as the adviser's chief compliance officer from 2009 to 2012, did not design policies for the risk of a vice president misusing confidential information, did not collect and review employees' personal trading records, did not keep restricted or watch lists, and did not investigate after learning of the employee's trading in 2010. Meade consented to a cease-and-desist order under Sections 204, 204A and 206(4) of the Advisers Act, a bar from compliance and supervisory roles, and a $100,000 civil penalty.
The order charges Meade with compliance failures, not with trading or tipping himself, so this library no longer tags the matter as insider trading. No other technique fits, so it carries no technique tag.
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.
Timeline
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.