Monday, 26 January 2015
Last updated 1 hour ago
Sep 29 2011 | 11:12am ET
Former SAC Capital Advisors trader Donald Longueuil has been barred from the securities industry for his role in the expert-network insider-trading case.
The Securities and Exchange Commission imposed the sanctions two weeks after Longueuil settled the agency's allegations for $353,000. In its order, the SEC found that Longueuil traded on confidential information both during his time at SAC and at Empire Capital Management.
Longueuil pleaded guilty in April to insider-trading, admitting he received tips from Barai Capital Management founder Samir Barai and to trading tips with fellow SAC veteran Noah Freeman. He also admitted to destroying evidence after Barai Capital was raided by the Federal Bureau of Investigation in November.
Longueuil was sentenced to two-and-a-half years in prison.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…