Friday, 27 March 2015
Last updated 2 hours ago
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…