By Jonathan Stempel

NEW YORK (Reuters) – A U.S. regulator on Wednesday charged a former Goldman Sachs Group Inc (NYSE:) senior compliance analyst with insider trading, saying he made illegal trades involving banking clients while working in Warsaw, Poland.

According to the U.S. Securities and Exchange Commission, Jose Luis Casero Sanchez (35), of Spain learned non-public material about his employers’ clients while working in a control room that monitored pending mergers and acquisitions as well as financings.

An SEC complaint was filed against Casero in Manhattan. It stated that Casero updated the confidential “Grey List” of banks, which tracks clients involved in transactions.

From September 2020 to his May 2021 resignation Casero made significant trades in brokerage accounts that were opened under his parents’ names. This resulted in nearly $472,000 in profit.

Goldman was not named in the lawsuit, but Goldman clients were identified as Casero’s alleged trading partners.

According to the SEC, at least nine Casero trades involved mergers that included special purpose acquisition corporations.

Goldman issued a statement condemning the “egregious” behavior. “We fully cooperate with the SEC.”

Casero has not yet responded to my request for comment. His lawyer could not be immediately identified.

SEC also wants to freeze Casero’s assets and those of his parents. Both are “relief defendants.” The SEC stated that all three were Spanish citizens who are believed to have been Granada residents.

LinkedIn says Casero was employed by Goldman between Sept. 2019 and June 2021. He is now with UBS Group AG (SIX)

UBS had no immediate comment.