Thursday, 27 November 2014
Last updated 15 hours ago
Feb 29 2012 | 4:32am ET
Technology stocks have dominated the insider-trading cases brought in the U.S. over the past two years. But they're set to play second fiddle to a new star industry for illegal tipping.
Trading in and on confidential information about pharmaceutical and biotechnology companies is now "front and center" of the U.S. Justice Department investigation, the Financial Times reports. Authorities are looking into hedge funds trading around major announcements by such companies.
Earlier this week, the Federal Bureau of Investigation said it was investigating about 250 people for insider-trading, about half of whom it hoped to build criminal cases against.
A focus on insider-trading in pharmaceuticals and biotech is not entirely new: Last year, two men pleaded guilty in an insider-trading scam that helped sink FrontPoint Partners, including that hedge fund's former top healthcare manager, Joseph Skowron. Also last year, Massachusetts authorities sued hedge fund Risk Reward Capital Management for trading on confidential information received from expert network consultants.
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...