Ex-Moore Trader To Be Charged

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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...