Monday, 28 July 2014
Last updated 3 hours ago
Jun 7 2012 | 9:47am ET
Take Raj Rajaratnam's 11-year prison sentence out of the record books.
Just six months into that bit, a former lawyer was hit with a 12-year prison sentence, making Rajaratnam's now the second-longest insider-trading sentence in U.S. history. The unlucky felon is Matthew Kluger, who admitted last year that he tipped a broker, Kenneth Robinson, about impending mergers from 1994 until Robinson's arrest in 2011. Robinson would then pass the confidential information to a trader, Garrett Bauer.
Kluger said after the sentencing that it was unfair that he was treated more harshly, despite his guilty plea.
"I guess it's better to take $68 million and go to trial and be unwilling to accept responsibility for what you did," he said.
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…