Thursday, 31 July 2014
Last updated 5 hours ago
Oct 7 2011 | 10:39am ET
A hedge fund manager who pleaded guilty in the Galleon Group insider-trading case has now settled Securities and Exchange Commission civil charges against him.
Steven Fortuna will pay $300,000 under a settlement approved by a federal judge. He pleaded guilty in 2009 to trading on a tip he received from former New Castle Partners executive Danielle Chiesi, a key member of Galleon founder Raj Rajaratnam's insider-trading ring.
The SEC agreed to drop its charges against Fortuna's hedge fund, S2 Capital Management, which has "ceased operations and is essentially defunct."
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…