Thursday, 26 March 2015
Last updated 2 hours ago
Apr 13 2010 | 9:32am ET
Trading firm Schottenfeld Group and the Securities and Exchange Commission have implored a federal judge to approve the former’s settlement of the latter’s charges related to the Galleon Group insider-trading scandal.
In a joint letter, the two sides sought to assuage U.S. District Judge Jed Rakoff’s demand for more information, detailing the questionable trades and explaining the relationship between the allegedly illicit profits earned by Schottenfeld and the civil penalties imposed by the SEC.
Schottenfeld agreed to pay a $230,238 fine, part of a $763,000 settlement with the regulator. But Rakoff refused to approve that deal last week despite saying it “does not appear unreasonable on its face,” insisting on “further information.”
Schottenfeld settled a second SEC lawsuit two weeks ago, a pact that received U.S. District Judge Richard Sullivan’s acquiesce without further ado.
Three Schottenfeld employees are among the 21 people charges in the Galleon case.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…