April 17, 2014 / 4:23 PM / in 3 years

Ex-BP employee settles SEC insider-trading oil spill case

Fire boat response crews battle the blazing remnants of the offshore oil rig Deepwater Horizon, off Louisiana, in this April 21, 2010 file handout image. REUTERS/U.S. Coast Guard/Files/Handout

WASHINGTON (Reuters) - A former 20-year veteran of BP plc will pay a civil penalty to settle civil charges alleging he used non-public information during the 2010 Deepwater Horizon oil spill to commit insider-trading, U.S. regulators said on Thursday.

The Securities and Exchange Commission said Keith A. Seilhan, who coordinated the company’s cleanup efforts, will settle the case without admitting or denying the charges.

Reporting by Sarah N. Lynch; Editing by Eric Beech

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