Sunday, 21 December 2014
Last updated 7 hours ago
Oct 31 2013 | 9:06am ET
A retired consultant passed confidential tips about children's clothing company Carter's Inc. to two hedge fund managers, who used the information to make about $2 million, the Securities and Exchange Commission said.
The regulator on Tuesday sued Dennis Rosenberg, accusing him of earning some $500,000 on the tips, both from investing on them himself and in consulting fees from the hedge funds, which were not identified. The SEC said that Rosenberg received the tips from a former Carter's executive between 2005 and 2010.
Rosenberg has settled the allegations and will pay more than $600,000, plus civil penalties to be decided later. He did not admit or deny any wrongdoing.
Rosenberg's is the third insider-trading case at Carter's in as many years; two former vice presidents at the company pleaded guilty to criminal charges.
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.