Friday, 25 July 2014
Last updated 5 hours ago
Apr 17 2012 | 12:32pm ET
A hedge fund insider-trader has been sentenced to one year in prison for trading on tips from his brother-in-law and a college buddy.
James Turner was also fined $25,000 and sentenced to three years of supervised release following his prison term. The former Clay Capital Management chief investment officer pleaded guilty in December to earning more than $2.5 million in illegal profits, and had faced as much as 20 years in prison.
According to prosecutors, Turner began getting insider tips from Scott Vollmar and Scott Robarge in 2006, covering three different companies. Both Vollmar and Robarge have pleaded guilty as well and await sentencing next month.
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…