Hong Kong stocks slid, with the city’s benchmark index poised for its lowest close in a week, after data showed China’s new credit fell in March from a year earlier and money supply grew at the slowest pace since 2001.
Billionaire Steven A. Cohen’s firm said the U.S. Securities and Exchange Commission’s administrative proceeding against him has been delayed until at least early June, according to a memo sent to employees today.
SAC Capital Advisors LP’s landmark $1.8 billion settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider-trading cases.
John DiMatteo, most recently co- chairman of the intellectual property department at Willkie Farr & Gallagher LLP, joined New York litigation boutique Holwell Shuster & Goldberg LLP as a partner, the firm’s first lateral hire since its founding two years ago.
SAC Capital Advisors LP employees gathered in the hedge fund’s cafeteria on July 21, 2008, for a seminar by former Securities and Exchange Commission Chairman Harvey Pitt on compliance and how to prevent insider trading.