Saturday, 20 December 2014
Last updated 1 day ago
Jan 2 2013 | 12:51pm ET
Convicted insider-trader Raj Rajaratnam has agreed to pay some of the nearly $160 million in fines and disgorgement assessed against him.
The Galleon Group founder, convicted of fraud in 2011, reached a deal with the Securities and Exchange Commission last week. Rajaratnam, currently serving an 11-year prison sentence, will pay $1.3 million in disgorgement and $147,738 in interest. He has already paid $53.8 million in forfeitures and a $10 million fine as part of the criminal case against him.
Rajaratnam is still fighting the record $92.8 million fine imposed by the SEC. The $1.5 million deal stems from the SEC's case against former McKinsey & Co. chief Rajat Gupta, who allegedly passed Rajaratnam tips about two companies on whose boards he served. Gupta was convicted of insider-trading in June.
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.