According to today’s Wall Street Journal:

Federal authorities have charged 13 individuals on insider trading charges in connection with two separate schemes to trade on inside information about analyst recommendation changes before they became public and pending mergers and acquisitions, according to court documents.

The individuals charged include a Morgan Stanley lawyer and her husband, an institutional client manager in the equity research department UBS AG’s securities unit, registered representatives in the securities businesses of Bear Stearns Cos. and Bank of America Corp. and several hedge fund employees.

The charges include conspiracy, securities fraud, commercial bribery and making false statements, according to court documents.

The two schemes allegedly generated $8 million in illicit profits. The Securities and Exchange Commission separately filed civil charges against 11 individuals and three entities in the schemes.