Friday, 28 November 2014
Last updated 13 hours 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...