Wednesday, 1 October 2014
Last updated 11 hours ago
Oct 12 2011 | 6:28am ET
H. Clayton Peterson will do no jail time for passing confidential information to his hedge fund manager son.
A federal judge in New York yesterday sentenced Peterson to two years probation and three months house arrest. Peterson pleaded guilty in August to tipping his son, Drew, off to the impending acquisition of Mariner Energy, on whose board he served. Drew Peterson, who has also pleaded guilty but whose sentencing date has not been scheduled, then tipped off another hedge fund manager, believed to be Denver-based Big 5 Asset Management founder Bo Brownstein.
U.S. District Judge Robert Patterson said that, while he was "concerned that these cases will lead to misunderstanding on the part of the public as to why a sentence here of non-incarceration is justified," he said that Peterson's long business career and service in the Vietnam War weighed in the defendant's favor. But the judge did impose a $400,000 fine, which had not been sought by prosecutors.
"My life and reputation will never be the same," Peterson said at the hearing. "I will live with this stigma for the rest of my life."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...