Sunday, 29 March 2015
Last updated 1 day ago
Jul 11 2014 | 6:22am ET
The former SAC Capital Advisors had 90 days to pay a $900 million criminal penalty for insider trading—and the firm took every single one.
The rechristened Point72 Asset Management made the payment in four instalments Tuesday, exactly 90 days after the judge that accepted its guilty plea gave it that window. Point72 is now a family office managing founder Steven Cohen’s wealth, as part of its settlement with prosecutors bars it from managing outside capital.
Another part of its November deal gave it three times longer than usual to pay its fine. That gave Point72 an extra two months to invest the money.
Point72 still owes about $300 million in forfeitures, which is expected to be paid next month.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…