Friday, 26 December 2014
Last updated 2 days ago
Oct 29 2012 | 1:00pm ET
A former technology executive and friend of Galleon Group founder Raj Rajaratnam has settled allegations that he passed the now-imprisoned hedge fund manager confidential information about his company.
Kris Chellam agreed to pay $1.75 million in a deal with the Securities and Exchange Commission. The regulator had accused the former Xilinx Inc. CFO of tipping Rajaratnam about the company at the end of 2006, allowing the latter to make almost $1 million in illegal profits.
Chellam allegedly told Rajaratnam that Xilinx, which makes programmable chips, would miss its revenue projections. Six months later, Chellam was working for Galleon, and was an investor in his funds.
Chellam, a close friend of Rajaratnam, who is serving 11 years in prison, was not criminally charged. Nor was Xilinx accused of wrongdoing. The California man's deal must still be approved by a federal judge.
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.