Tuesday, 29 July 2014
Last updated 17 hours ago
Jun 13 2013 | 9:13am ET
The brother of alleged insider-trading mastermind Zvi Goffer has settled with the Securities and Exchange Commission, two years after his criminal conviction on related charges.
Emanuel Goffer agreed to pay more than $1.5 million in disgorgement and prejudgment interest, although he won't actually pay any of it: Half is offset by the $760,000 he was ordered to pay in the criminal case, and the rest will be waived due to his financial condition. Goffer is serving a three-year sentence for conspiracy and securities fraud.
Goffer, his brother and a third employee of Zvi Goffer's Incremental Capital were convicted of buying and trading on inside information from lawyers at Ropes & Gray. Emanuel Goffer was also convicted of assisting his brother in an attempt to cover-up their activities.
In addition to the waived disgorgement, the Goffer also accepted an SEC order barring him from the financial industry.
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…