SAC Capital Adds Compliance Pro To Boston Office

Jun 17 2011 | 8:32am ET

SAC Capital Advisors has hired its first compliance officer in Boston, the office that once housed admitted insider-trader Noah Freeman.

Gina DiMento oversees compliance for the roughly dozen portfolio managers and analysts at SAC's Beantown office. SAC Boston's compliance needs had previously been handled by SAC's compliance teams in Stamford, Conn., and New York, Bloomberg News reports.

DiMento, who joined SAC last month, previously worked at AGS Law Group, which advises hedge funds, as well as PAR Capital Management and Wellington Management Co.

Freeman, who has pleaded guilty to insider-trading as part of the government's crackdown on expert-networks, testified in the trial of Winifred Jiau last week that he traded on confidential information while at SAC from 2008 through 2010. Freeman said he went to some lengths to hide his activities from SAC's compliance department, billing Primary Global Research, for which Jiau consulted, in the form of higher trading commissions.

SAC has said that it is "outraged by the alleged actions of two former employees," Freeman and Donald Longueuil, who has also pleaded guilty in the case. The hedge fund currently faces four separate investigations, though neither the firm nor its founder, Steve Cohen, have been accused of wrongdoing.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.