The Securities and Exchange Commission on Tuesday charged a senior technology employee with Silicon Valley law firm Wilson Sonsini Goodrich & Rosati with illegally trading on nonpublic information he learned about mergers involving the firm’s clients. In a related criminal complaint, the U.S. attorney’s office for the Southern District of New York charged Braverman with securities fraud. Starting in 2010, he allegedly began using nonpublic information from the law firm’s database to trade stock or options in companies involved in takeovers including Gymboree, Drugstore.com, Epicor Software, Seagate Technology, YM Biosciences, Astex Pharmaceuticals, Dealertrack Technologies and Xyratex, the SEC suit says. The SEC’s complaint charges Braverman with violating securities laws and named Pupynin as a relief defendant so it could attempt to recover gains in the trading account in his name. The California Public Employees’ Retirement System will abandon all of its hedge fund investments over the next year, the giant public pension fund announced Monday. The system will exit 24 hedge funds and six hedge fund-of-funds “as part of an ongoing effort to reduce complexity and costs in its investment program,” it said. CalPERS retains a healthy allocation to other types of alternative assets including private equity (10.4 percent of assets), and real assets such as real estate, infrastructure and forest land (which together make up 10.1 percent of assets). The decision by CalPERS, the nation’s largest public pension fund, “is a big deal for sure,” said Ken Heinz, president of HFR Hedge Fund Research.