Wednesday, 17 December 2014
Last updated 8 hours ago
Jun 21 2012 | 10:43am ET
Fraudsters Matthew Kluger and Garrett Bauer weren't going to have to worry about their futures in the financial industry. But in case they had any ideas, the Securities and Exchange Commission moved to squelch them last week.
The regulator barred Bauer from the industry and suspended Kluger from appearing or practicing before it as a lawyer. Both men pleaded guilty to running an insider-trading scheme, in which Kluger tipped a broker, who in turn tipped Bauer, about impending mergers. The fraud ran from 1994 until the broker's arrest last year.
Of course, being barred by the SEC is the least of the two men's problems. Bauer was sentenced to nine years in prison for his crimes, and Kluger 12—the longest insider-trading sentence in U.S. history.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.