Friday, 31 October 2014
Last updated 14 hours ago
Dec 16 2010 | 2:30pm ET
John Kinnucan, the research firm founder at the center of the Justice Dept.'s widening insider-trading investigation, has received another subpoena.
The information request from the Securities and Exchange Commission comes less than two weeks after the Broadband Research chief got one from the Federal Bureau of Investigation. The new subpoena seeks information about Sedna Capital Management, the now-defunct hedge fund founded by Regnan Rajaratnam, the brother of Galleon Group founder and insider-trading defendant Raj Rajaratnam.
Kinnucan, who became something of a celebrity for refusing to cooperate with the FBI in the insider-trading probe, told Business Insider that he's "never even heard" of Sedna.
"I've never even done business with Galleon," he said.
Kinnucan, who has two days to respond to the request, said the SEC was seeking "even more details" and "more personal information" than the FBI: "anything related to his business for the last three years."
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…
Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.