Saturday, 20 December 2014
Last updated 1 day ago
Oct 18 2011 | 8:31am ET
Two lawyers implicated in the Galleon Group insider-trading case have agreed to settle an SEC lawsuit.
Arthur Cutillo, formerly of Ropes & Gray, pled guilty to securities fraud and conspiracy in January and was sentenced to two-and-a-half years in prison. Prosecutors alleged he had shared confidential information about his law firm’s clients with private practice lawyer Jason Goldfarb, who then passed that information along to his old friend and hedge fund trader Zvi Goffer.
Goldfarb, who pled guilty to conspiracy and securities fraud in April, was sentenced to three years in prison in August.
In separate settlements approved Monday by U.S. District Judge Richard Sullivan, Cutillo and Goldfarb each agreed to pay $36,704 in disgorgement and prejudgment interest in the SEC's case, reports the Wall Street Journal. The paper says the settlements will be satisfied by money they have already paid as part of their criminal forfeitures.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.