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Join the Securities Litigation and Enforcement Group on LinkedInSEC Seeks to Distribute $602 Million in SAC Capital Settlement to Investors | Compliance Week
The SEC will reportedly attempt to distribute the funds from its $602 million insider trading settlement with SAC Capital to the people who were on the other (losing) side of those trades. via SEC Seeks to Distribute $602 Million in SAC Capital Settlement to Investors | Compliance Week.
Mathew Martoma’s Wife Fights to Keep Couple’s Florida Home, Millions in Cash | Compliance Week
Mathew Martoma will begin serving his nine year prison term for insider trading next month, but his wife is now challenging an accompanying $9.4 million forfeiture order. Rosemary Martoma asked the court this week to allow her to keep her share of the couple’s assets–including a $2.2 million home in Boca Raton, Florida and approximately […]
SAC’s Insider Trading ‘Victims’ Push for Share of $602 Million Settlement | Compliance Week
SAC Capital’s alleged insider trading that led to a $602 million settlement with the SEC is discussed in detail in the excellent piece in The New Yorker that I recommended earlier this week. Now the SEC is faced with another question: what should it do with that $602 million? via SAC’s Insider Trading ‘Victims’ Push for Share […]
Must-Read: The New Yorker on Steve Cohen’s ‘Empire of Edge’ | Compliance Week
The October 13, 2014 issue of The New Yorker includes a terrific piece by Patrick Radden Keefe that provides a fascinating look at the workings at SAC Capital, the high-profile prosecution of former SAC trader Mathew Martoma, and the government’s intense pursuit of SAC founder Steve Cohen. via Must-Read: The New Yorker on Steve Cohen’s ‘Empire of Edge’ | […]
SEC ponders an SAC booty bomb of an investor fund | New York Post
The Securities and Exchange Commission is meeting behind closed doors Thursday to decide whether to establish an investor fund from the booty it collected from disgraced hedge fund SAC Capital…. The SEC’s decision over what to do with the money is part of a larger internal debate at the agency over who is harmed by […]
US SEC to decide if investors share in $600m SAC settlement
If the SEC rules in their favor, the investors could seek a portion of the $602 million the SEC collected in a settlement from a division of SAC Capital Advisers after former portfolio manager Mathew Martoma was caught trading on secret tips. It would be the SEC’s largest payout ever to insider trading victims. The […]
Judge set to decide SAC Capital’s penalty — CNNMoney
A federal judge could rule Thursday on whether she’ll accept the insider trading guilty plea from the hedge fund firm formerly known as SAC Capital Advisors, as well as the proposed $1.2 billion in penalties. via Judge set to decide SAC Capital’s penalty — CNNMoney
After Inquiry, SAC Capital Says It Intends to Hire a Trading Monitor – NYTimes.com
Steven A. Cohen, the billionaire hedge fund owner, is looking to hire a former prosecutor or securities regulator to monitor trading at his investment firm after the federal government's insider trading investigation. After Inquiry, SAC Capital Says It Intendsto Hire a Trading Monitor – NYTimes.com
SAC Compliance Head Quits After Insider Cases Hit Firm – Bloomberg
SAC Capital Advisors LP, the hedge-fund manager that U.S. prosecutors have called a “veritable magnet for market cheaters,” said Chief Compliance Officer Steve Kessler is stepping down at the end of the month after nine years at the firm. via SAC Compliance Head Quits After Insider Cases Hit Firm – Bloomberg.
Martomo Roundup: SAC Trader Convicted on Two Counts of Securities Fraud, One Count of Conspiracy – Compliance Week
Yesterday, a federal jury in Manhattan found Matthew Martomo, a former trader at SAC Capital, guilty on two counts of securities fraud and one count of conspiracy related to an insider trading scheme. The scheme allegedly involved Martomo receiving and trading on inside information he obtained from doctors related to a pharmaceutical trial for an Alzheimer’s drug. Here […]