Daily Archives: November 6, 2013, 12:52 pm

U.S. judge won’t rubber-stamp SAC insider trade decision — Reuters

A Manhattan federal judge signaled on Tuesday that he will not rubber-stamp a central component of billionaire Steven A. Cohen’s SAC Capital Advisors LP’s record $1.2 billion insider trading settlement with the government, saying he needs more information about the accord’s fairness. Citing the recent judicial “debate” about how closely to scrutinize regulatory settlements, U.S. District Judge Richard Sullivan directed…

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Ex-Madoff Staff Seek to ‘Embarrass’ SEC at Trial, U.S. Says — Bloomberg

Five ex-employees of Bernard Madoff on trial accused of aiding his $17 billion fraud seek to “embarrass” U.S. Securities and Exchange Commission witnesses by asking about bungled Madoff audits, prosecutors say. The questions, to be asked on cross-examination, should be barred because the SEC employees who will testify began probing only after Madoff’s arrest on Dec. 11, 2008, and weren’t…

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