Another insider case stems from SAC Capital

Dog Detective

Federal regulators on Thursday announced the latest case to stem from the decade-long insider trading investigation into SAC Capital Advisors, taking aim at a former employee for prompting a number of illegal trades.

The New York Times reports that Ronald N. Dennis is the 10th former employee of SAC — the hedge fund run by the billionaire investor Steven A. Cohen — to face civil or criminal insider trading charges.

The civil case against Dennis comes eight months after the indictment of SAC itself. After that move, a rare show of criminal force against a large company, the investigation into SAC and Mr. Cohen began to lose momentum.

Dennis settled the civil charges with the Securities and Exchange Commission, agreeing to be banned from the securities industry and to pay $200,000. Dennis, who worked for less than two years at an arm of SAC known as CR Intrinsic before he left in 2010, was not charged criminally. In past court filings, prosecutors named him as an uncharged co-conspirator.

To access the complete New York Times article hit the link below:

S.E.C Unveils Case Against 10th Former Employee of SAC Capital

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