As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 14 hours 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.