{"id":42676,"date":"2014-06-20T07:57:35","date_gmt":"2014-06-20T11:57:35","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=42676"},"modified":"2014-06-20T08:08:11","modified_gmt":"2014-06-20T12:08:11","slug":"sac-affiliate-settles-sec-insider-trading-charges-for-600-million","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2014\/sac-affiliate-settles-sec-insider-trading-charges-for-600-million.html","title":{"rendered":"SAC Affiliate Settles SEC Insider Trading Charges For $600 Million"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft  wp-image-25666\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_.jpg\" alt=\"sec_building.gi.top\" width=\"358\" height=\"248\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_.jpg 495w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_-300x208.jpg 300w\" sizes=\"auto, (max-width: 358px) 100vw, 358px\" \/><\/a>New York (HedgeCo.Net) &#8211; The US courts have approved a $600 million fine to settle SEC charges that\u00a0hedge fund advisory firm CR Intrinsic Investors participated in an insider trading scheme involving a clinical trial for an Alzheimer\u2019s drug, Reuters reports. CR Intrinsic is an affiliate of SAC Capital.<\/p>\n<p>Matthew Martoma, a former portfolio manager CR Intrinsic Investors was found guilty and is awaiting sentencing. &#8220;Martoma is scheduled to be sentenced on July 28. Court probation officers have recommended a prison term of up to 20 years, which would be a U.S. record for insider trading.&#8221; Reuters says.<\/p>\n<p>\u201cThe historic monetary sanctions against CR Intrinsic and its affiliates are sharp warning that the SEC will hold hedge fund advisory firms and their funds accountable when employees break the law to benefit the firm,\u201d said George S. Canellos, Acting Director of the SEC\u2019s Division of Enforcement.<\/p>\n<p>Ronald Dennis, who worked at the hedge fund advisory firm\u00a0agreed to be barred from the securities industry and pay more than $200,000 to settle the SEC\u2019s charges.<\/p>\n<p>Steven A Cohen&#8217;s hedge fund\u00a0SAC Capital Advisors has agreed pay approximately\u00a0$2 billion.\u00a0Another SAC affiliate, Sigma Capital,\u00a0agreed to pay nearly $14 million\u00a0to settle insider trading charges.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a style=\"color: #743399;\" title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a style=\"color: #743399;\" href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a style=\"color: #743399;\" title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The US courts have approved a $600 million fine to settle SEC charges that\u00a0hedge fund advisory firm CR Intrinsic Investors participated in an insider trading scheme involving a clinical trial for an Alzheimer\u2019s drug, Reuters reports. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,12,16034,3,16047],"tags":[],"class_list":["post-42676","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedge-fund-regulation","category-hedge-fund-rulings","category-hedgeco-news","category-insider-trading-2"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=42676"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42676\/revisions"}],"predecessor-version":[{"id":42683,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42676\/revisions\/42683"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=42676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=42676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=42676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}