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.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note