Monday, 22 December 2014
Last updated 1 hour ago
May 18 2010 | 10:45am ET
A former hedge fund trader has pleaded guilty to insider-trading.
Anjam Ahmad, who worked as an execution trader at AKO Capital until September, admitted to trading 22 different securities based on confidential information today in London. He faces up to seven years in prison on the single count of conspiracy to commit insider dealing when he is sentenced on June 22.
The presiding judge, Geoffrey Rivli, warned Ahmad that he “can make no promises as to sentence,” calling the illegal trades, conducted between June and August of last year, “a serious matter.”
AKO has not been accused of any wrongdoing. The firm has said that Ahmad’s illicit trading took place in his personal accounts.
Two other men were arrested with Ahmad. Neither has yet been charged.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.