The price of platinum dropped this month amid prospects for higher U.S. interest rates and speculation that demand will slip for the metal used in auto pollution-control devices.
The case will test the SEC’s theory that outsiders are liable for trading on inside tips even if they received the information before agreeing not to use it.
Investors are recoiling from riskier assets amid a mix of deteriorating credit fundamentals for retailers and energy companies and higher interest rates from the Federal Reserve, which will make it harder to refinance debt.