The U.S. Securities and Exchange Commission sued Joseph Mancuso, a former trader at Schottenfeld Group LLC, accusing him of making about $350,000 on a series of illegal tips from Zvi Goffer, a former Galleon Group LLC trader.
European Union nations must resume talks on a draft law to overhaul the bloc’s financial market rules, after ambassadors failed to resolve a clash between the U.K. and Germany on competition in derivatives clearing.
Rengan Rajaratnam, the younger brother of imprisoned hedge-fund founder Raj Rajaratnam, was taken into custody by FBI agents yesterday when he arrived at John F. Kennedy International Airport on a flight from Brazil, a person familiar with the matter said.
Rengan Rajaratnam, the younger brother of imprisoned hedge-fund founder Raj Rajaratnam, was indicted by a federal grand jury on charges he took part in an insider-trading scheme tied to Galleon Group LLC.
Transnational Corp. of Nigeria Plc, which has interests in power, hotels, agriculture and oil, plans to raise 15 billion naira ($95 million) to refinance a power project and expand investments in oil exploration and hotels.