SEC v. Cedric Cañas Maillard and Julio Marín Ugedo, Case No. 13-cv-5299 (S.D.N.Y.).  On July 31, 2013, the SEC announced insider trading charges against Cedric Cañas Maillard, a former executive advisor to the CEO of Spanish bank Banco Santander S.A., and Julio Marín Ugedo, a former judge in Spain.  The SEC alleges that mining company BHP Hilton offered to purchase all of the stock of Potash Corporation, a producer of fertilizer minerals, for $130 per share.  Banco Santander’s CEO and other executives discussed the BHP offer with Cañas on several occasions.  According to the SEC, Cañas bought 30,000 Potash contracts-for-difference (“CFD”), which are securities not traded in the U.S., based on insider information.  Cañas liquidated his entire CFD position in Potash after the public announcement of the deal and made about $917,239.44 in profits.  Cañas also tipped Marín who bought Potash common stock and made profits of $43,566.  The SEC charged Cañas and Marín with violating Sections 10(b) and 14(e) of the Exchange Act and Rules 10b-5 and 14e-3 thereunder.  The SEC seeks disgorgement, financial penalties, and injunctive relief.