A former examiner in the SEC Division of Enforcement recently pleaded guilty to theft of public property. The DOJ alleged that he had misappropriated confidential information maintained by the SEC about a New York-based private equity firm and revealed that information to help secure a lucrative position as the firm’s CCO. Although rogue employees are nothing new in the financial services industry, a rogue SEC employee is incredibly rare. This article details the circumstances giving rise to the former examiner’s downfall, his alleged misconduct and the terms of his plea, as well as an unrelated enforcement action involving the firm. It also explores the potential implications for fund managers of an SEC employee’s going rogue. See “Procedures for Hedge Fund Managers to Safeguard Trade Secrets From Rogue Employees” (Jul. 21, 2016).