Securities: Former Oracle VP Will Settle

A former vice president of Oracle Corp. will pay $198,000 to settle charges of insider trading. Christopher Balkenhol, 40, is believed to have used information targets that he learned from his wife. Balkenhol's wife served as a lead executive assistant to Oracle's chief executive and two co-presidents. Balkenhol decided to settle the Security and Exchange Commission's civil complaint without denying or admitting any wrongdoing.

Ex-Oracle VP to pay SEC in settlement

Balkenhol's wife was not charged or identified. Helane Morrison, the head of the SEC's San Francisco Regional Office, said of the case: "In these situations, the family members have a duty to refrain from using the information for personal gain in the stock market." The SEC says that Balkenhol made trades in 2004 and 2005 with knowledge of Oracle's bids for Retek Inc.