Tuesday, 23 September 2014
Last updated 6 hours 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.