The Securities and Exchange Commission has charged Michael Steinberg, a portfolio manager at New York-based Sigma Capital Management, with insider trading ahead of quarterly earnings announcements from Dell and Nvidia Corporation.

The SEC alleges that Steinberg’s insider trading bolstered the profits of funds managed by Sigma and its affiliate SAC Capital Advisors, to the tune of around $6 million plus avoided losses.

The organization alleges that Steinberg got his information from Jon Horvath, an analyst who reported to him at Sigma Capital. Horvath was charged last year along with several hedge fund managers and analysts as part of an investigation into expert networks and the trading activities of hedge funds.

Horvath, 43, pled guilty to one count of conspiracy to commit securities fraud and two substantive counts of securities fraud in September 2012.

Earlier this month, Sigma Capital and two affiliated hedge funds agreed to a $14 million settlement with the SEC for insider trading charges.

In a separate action, the US Attorney's Office for the Southern District of New York has announced criminal charges against Steinberg.

According to the SEC's complaint filed in federal court in Manhattan, Steinberg traded Dell and Nvidia securities based on nonpublic information in advance of at least four quarterly earnings announcements in 2008 and 2009. The complaint also alleges that Steinberg tipped another portfolio manager at Sigma Capital.

The complaint seeks a final judgment ordering Steinberg to pay disgorgement of his ill-gotten gains plus prejudgment interest and financial penalties, and permanently enjoining him from future violations of these provisions of the federal securities laws.