Wednesday, 22 October 2014
Last updated 12 hours ago
Apr 28 2010 | 1:04pm ET
A former hedge fund trader has been charged with insider trading in the latest case brought by an increasingly active U.K. Financial Services Authority.
Anjam Ahmad, formerly of hedge fund AKO Capital, has been charged with conspiracy to commit insider trading. London-based AKO said the trades in question were personal and that the hedge fund has not been charged with any wrongdoing.
“The charges relate to Mr. Ahmad’s activities in a personal capacity,” the firm said in a statement. “AKO Capital has not been a subject of the investigation and there has never been any suggestion of any involvement by AKO Capital or any other AKO Capital personnel.”
Ahmad was arrested in January with two other men. According to authorities, the former execution trader, who left AKO in September, traded 22 different stocks based on confidential information last summer.
Charges against the other two men are still pending. The case is unrelated to another insider-trading sweep by the FSA that nabbed Moore Capital Management execution trader Julian Rifat.
If convicted, Ahmad faces up to seven years in prison. Currently free on bail, the former Citigroup investment adviser is due back in court on May 7.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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