Thursday, 18 September 2014
Last updated 53 min ago
Jan 10 2014 | 1:03pm ET
Former Moore Capital Management trader Julian Rifat may regret forcing the hand of the U.K. Financial Conduct Authority.
Rifat last year won a court order for the FCA to either bring charges against him or drop a four-year-old insider-trading investigation by today. Well, the FCA has made its decision, and, unfortunately for Rifat, it is the former.
The FCA will file criminal charges against Rifat by early next month, Bloomberg News reports. Rifat will be the ninth of 10 suspects in the case to face charges; Clive Roberts, formerly of BNP Paribas, remains in legal limbo.
Since their arrests in 2010, the amount of the alleged fraud in question has fallen from £27 million to just £3 million.
Rifat was an execution trader at Moore prior to this arrest. Details of the case against him are unclear.
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.