Friday, 22 August 2014
Last updated 3 hours ago
Jun 21 2011 | 8:18am ET
Former Galleon Group trader Adam Smith, a key witness against that firm’s founder in the successful insider-trading prosecution, has settled civil charges filed by the Securities and Exchange Commission.
Smith agreed to pay almost $150,000 in disgorgement and prejudgment interest on his illicit earnings trading shares of ATI Technologies. Smith, who pleaded guilty to criminal insider-trading charges in January, was not fined as a result of his cooperation with the SEC’s probe.
Smith testified at Galleon founder Raj Rajaratnam’s trial that he received and traded on insider-information about four companies, with Rajaratnam’s knowledge and approval. He added that Rajaratnam all but ordered him to ferret out material non-public information to trade on, and that he passed tips on to his then-boss.
Rajaratnam was convicted of all charges and faces decades in prison.
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