Wednesday, 1 October 2014
Last updated 58 min ago
Apr 28 2011 | 10:43am ET
Get ready to add one more guilty plea to the 21 already entered in an ongoing federal insider-trading probe—that of former SAC junior portfolio manager Donald Longueuil.
Assistant U.S. Attorney David Leibowitz told U.S. District Judge Jed Rakoff that Longueuil would plead guilty during a hearing Wednesday about separating Longueuil’s case from that of fellow defendant Winifred Jiau, reports Bloomberg.
Jiau and Longueuil were both charged with conspiring to commit securities and wire fraud between 2006 and 2010. Both had pleaded not guilty.
Prosecutors allege that Longueuil received tips from another former SAC manager, Noah Freeman, who allegedly got the information from Jiau, who worked for the expert network Primary Global. Freeman has pleaded guilty and is cooperating with the investigation.
The defendants are among the roughly 36 people charged in what prosecutors describe as a series of insider-trading rings linked to the Galleon Group, whose founder, Raj Rajaratnam, is currently facing trial.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...