Wednesday, 1 October 2014
Last updated 8 hours ago
Oct 18 2013 | 10:44am ET
An expert network analyst caught up in the hedge-fund insider-trading crackdown has been spared jailtime.
Bob Nguyen was sentenced to two years' probation in recognition of the "very substantial assistance" he offered to the investigation. Nguyen testified at the trial of James Fleichman, an executive at Primary Global Research, where Nguyen also worked, and helped lead prosecutors to Walter Shimoon, one of his sources, who in turn helped bring down Broadband Research founder John Kinnucan.
U.S. District Judge Jed Rakoff said the light sentence was an acknowledgement of just how much help prosecutors need to win insider-trading cases.
"The very fact that they have uncovered so many instances of it illustrates how widespread this crime is and how much deterrence is needed," Rakoff said.
For his part, Nguyen apologized and pledged to "never do it again."
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...