Tuesday, 25 November 2014
Last updated 2 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.
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...