Thursday, 25 December 2014
Last updated 1 day 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."
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.