Monday, 15 September 2014
Last updated 7 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 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?