Saturday, 20 September 2014
Last updated 1 day ago
Jun 26 2013 | 12:21pm ET
Having trouble making conventional insider-trading charges stick against SAC Capital Advisors or founder Steven Cohen, federal prosecutors may seek to allege that Cohen was willfully blind to the allegedly illegal activities of his subordinates.
While prosecutors haven't abandoned other legal avenues against SAC or Cohen, they are investigating the conscious avoidance theory. Under such an allegation, the government would accuse Cohen of deliberately avoiding knowledge of potential illegal activities at his firm.
Prosecutors are said to believe that such a tack against SAC could prove fruitful, given the firm's structure, The Wall Street Journal reported. At SAC, trade ideas are generated by the firm's teams, and the best are filtered up to Cohen and the firm's other top managers.
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.