Wednesday, 30 July 2014
Last updated 14 hours ago
Sep 1 2011 | 12:01pm ET
Diamondback Capital Partners and a former hedge fund manager at the firm have settled Securities and Exchange Commission charges stemming from insider-trading allegations against the latter.
Greenwich, Conn.-based Diamondback, which says it was never accused of any wrongdoing, agreed to pay $1 million in illegal profits it earned on Anthony Scolaro's trades. Scolaro pleaded guilty last year to participating in the Galleon Group insider-trading ring; that guilty plea led to Diamondback's offices being raided by the Federal Bureau of Investigation in November.
That raid, in turn, has contributed to more than $1 billion in redemption requests.
Scolaro settled the civil charges against him for $203,400.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…