Thursday, 24 July 2014
Last updated 14 min ago
Oct 7 2011 | 11:07am ET
A Morgan Stanley banker identified as a source of insider information during Galleon Group founder Raj Rajaratnam's trial earlier this year has been fired.
Kamal Ahmed was let go in May, two months after his name surfaced at Rajaratnam's trial. Morgan Stanley said that Ahmed, who worked in California, was found to have violated its disclosure policies following an internal investigation, the Financial Times reports.
Ahmed was fingered by former Galleon portfolio manager Adam Smith, who testified against Rajaratnam. Smith said he had received confidential information about several companies from Ahmed that he passed along to his boss.
Ahmed has not been charged with any wrongdoing by the authorities.
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…