SEC staffer arrested for lying about holdings

A longtime Securities and Exchange Commission staffer was charged Tuesday with lying about his own financial portfolio.

Steven Gilchrist, a New York-based staffer, held stock he was not allowed to own as a regulator — in companies like Bank of America — then lied about it several times, according to media reports. 

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Gilchrist, who's been at the SEC since the 1990s, faces up to 15 years in prison if convicted.