Saturday, 27 December 2014
Last updated 2 days ago
Jun 19 2013 | 9:43am ET
The former KPMG partner who has admitted to passing tips about several companies to a friend was arraigned on fraud charges this week—with a not-guilty plea entered on his behalf.
Scott London's procedural profession of innocence won't last long: He will plead guilty once his case is transferred to U.S. District Judge George Wu, who is overseeing the case against the beneficiary of his tips, Bryan Shaw. Shaw is also to plead guilty.
London faces up to 20 years in prison on the securities fraud count. He is expected change his plea within days.
At the arraignment, London spoke with reporters, telling them he was "shocked" that Shaw had made $1 million trading on tips about Herbalife and Skechers USA, while he himself had received about $70,000 in kickbacks. And he discussed his future plans.
"I won't be practicing before the SEC, but it'll be something," he said. "I'll wait tables."
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.