Tuesday, 22 July 2014
Last updated 1 hour ago
Sep 16 2010 | 1:43pm ET
A government informant in the Galleon Group insider-trading case has settled charges that he was trading on confidential information long before he wore a wire.
David Slaine agreed to pay $836,385 in disgorgements of illegal profits to settle the Securities and Exchange Commission case. The SEC sued Slaine in February, after his December guilty plea on seven-year-old insider-trading charges. Slaine admitted to trading on non-public information while at Chelsey Capital in 2002.
Slaine previously agreed to forfeit $532,287 as part of his guilty plea, a sum that will go towards his SEC settlement. He still faces up to 25 years in prison when he is sentenced.
Slaine wore a wire that produced some of the wiretaps at the heart of the government’s case against Galleon founder Raj Rajaratnam and the 20 others ensnared in the scheme.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…