Saturday, 23 August 2014
Last updated 1 day ago
May 23 2011 | 2:31pm ET
One top U.S. senator is looking into a handful of trades at SAC Capital Advisors to see if he can do what regulators and prosecutors have been unable to: find evidence of insider-trading.
Sen. Charles Grassley (R-Iowa), the ranking minority member of the Senate Judiciary Committee, is looking into "about 20 suspicious instances of trading by SAC Capital," his spokeswoman said. But the Senate isn't stopping there.
Senate investigators are in talks with the Justice Department, Securities and Exchange Commission and Financial Industry Regulatory Authority about widening the probe into options trading by the firm, The Wall Street Journal reports.
FINRA has turned over details from the 20 trades requested by Grassley.
Meanwhile, FOX Business Network Senior Correspondent Charlie Gasparino reports that despite government probes into SAC, the firm is not suffering redemptions, and in fact, it is growing: “They continue to take in assets despite these investigations,” sources told Gasparino, adding that SAC “has raised 1.5 billion dollars since mid 2010” when the probes began.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note