Thursday, 21 August 2014
Last updated 24 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 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the 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. Read more…
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 Editor's Note