Saturday, 20 September 2014
Last updated 23 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.
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.