Regulators, targeting insider trading in credit-default swaps for the first time, accused a Deutsche Bank AG salesman of illegally feeding information on a bond sale to a hedge-fund money manager.

Jon-Paul Rorech, a credit-default swap salesman at Deutsche Bank, passed information on the pending sale to former Millennium Partners money manager Renato Negrin, who bought swaps to reap a $1.2 million profit when the deal was announced, the Securities and Exchange Commission said yesterday.