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Join the Securities Litigation and Enforcement Group on LinkedInA Defiant Leon Cooperman Calls SEC ‘Abusive’ After Settlement — NewsMax
Billionaire hedge fund manager Leon Cooperman lambasted regulators as “abusive” after he settled his insider trading case with the U.S. Securities and Exchange Commission earlier this month. The founder of Omega Advisors told CNBC Tuesday that he would have won had the case gone to trial, but that he was advised to settle because the trial […]
Steven Cohen’s Hedge-Fund Comeback Shoots for a Record Target: $20 Billion – WSJ
Steven A. Cohen is plotting a return to hedge funds with a giant number in mind: $20 billion. The billionaire trader, whose former firm pleaded guilty to criminal insider trading charges less than four years ago, wants to amass that amount as part of a new operation that is likely to launch as soon as […]
Trump budget threatens SEC’s technology spending — FT
The Trump administration is planning to eliminate a part of the Securities and Exchange Commission budget that the regulator has been using to build tools for identifying insider traders and pursuing enforcement actions. A line item buried in the proposed budget released by the White House last week would scrap a $50m annual “Reserve Fund” […]
When ‘Political Intelligence’ Meets Insider Trading – The New York Times
Proving the insider trading charges will hinge on how broadly the rules for tipping confidential information apply when there is not a clear link between the source of the information inside a government agency and the traders who received it secondhand. The government claims that Deerfield’s funds made about $3.5 million in illicit profits. via […]