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  • CFTC Commitments Of Traders Reports Update

    Date 29/03/2013

    The current reports for the week of March 26, 2013 are now available.

  • Australian Research Analyst Extradited On Insider Trading Charges

    Date 29/03/2013

    Trent Martin was extradited from Hong Kong yesterday to face insider trading charges, announced U.S. Attorney for the Southern District of New York Preet Bharara and Assistant Director-in-Charge of the FBI New York Field Office George Venizelos, the announced the arrival of . He was arrested in Hong Kong on Dec. 22, 2012, following to a request from the United States. Martin will be presented in New York federal court before U.S. Magistrate Judge Henry B. Pitman this afternoon at 2:30 p.m.  

  • New York Hedge Fund Portfolio Manager Charged With Insider Trading - Michael Steinberg Allegedly Earned $1.4 Million In Illegal Profits

    Date 29/03/2013

    Michael Steinberg, a portfolio manager at a hedge fund located in New York, N.Y. (Hedge Fund A) was charged today  with securities fraud for his alleged involvement in an insider trading scheme, announced U.S. Attorney for the Southern District of New York Preet Bharara and Assistant Director-in-Charge of the New York Field Office of the FBI George Venizelos. As alleged, Steinberg executed trades based on material, nonpublic information provided to him by a Hedge Fund A analyst who worked for him, John Horvath, who previously pleaded guilty to securities fraud charges pursuant to a cooperation agreement.  In particular, Steinberg is alleged to have traded in two publicly traded technology companies, Dell, Inc. and NVIDIA Corporation, based on inside information that Horvath obtained from a circle of research analysts at several different investment firms, all of whom have also pleaded guilty for their roles in the scheme.  Those individuals are: Jesse Tortora, a former research analyst at Diamondback; Spyridon “Sam” Adondakis, a former research analyst at Level Global; Danny Kuo, a former research analyst and fund manager at Whittier Trust Company; and Sandeep “Sandy” Goyal, a former research analyst who worked at the Manhattan office of Neuberger Berman.  Steinberg’s trading in Dell and NVIDIA earned Hedge Fund A $1.4 million in illegal profits.  Steinberg was arrested this morning in Manhattan and will be presented and arraigned in New York federal court before U.S. District Judge Richard J. Sullivan at 11:00 a.m.

  • CFTC Approves Final Regulations Governing Dual And Multiple Associations Of Associated Persons Of Swap Dealers And Major Swap Participants

    Date 29/03/2013

    The Commodity Futures Trading Commission (Commission) has approved final regulations governing dual and multiple associations of associated persons (APs) of swap dealers (SDs), major swap participants (MSPs) and other Commission registrants. The regulations make clear that each SD, MSP and other Commission registrant with whom an AP is associated is required to supervise the AP and is jointly and severally responsible for the activities of the AP with respect to customers common to it and any other SD, MSP or other Commission registrant.

  • U.S. Treasury Secretary Lew To Travel To Europe For Meetings With Senior Government Officials, April 8-9, 2013

    Date 29/03/2013

    The U.S. Department of the Treasury today announced that Secretary Jacob J. Lew will travel to Europe April 8-9, 2013 for discussions with his counterparts on economic developments in Europe and policies to boost global growth and promote financial stability.