U.S. Securities and Exchange Commission Chairman Mary Jo White, responding after system errors caused a three-hour halt on the Nasdaq Stock Market last week, said she will push to adopt proposed automated-trading rules.
It took three decades for the amount of speculative-grade debt to reach $1 trillion. It took about seven years to reach $2 trillion as investors sought relief from the financial repression brought on by near-zero interest rates.
Former SAC Capital Advisors LP manager Mathew Martoma, charged with trading on illicit tips from a physician about an Alzheimer’s drug, was accused by prosecutors of getting inside information from a second doctor.
ThinkStrategy Capital Management LLC’s Chetan Kapur, who initially was accused of deceiving investors about returns in his hedge funds, avoided prison when he was sentenced to time served for failing to keep adequate records.
Marek Leszczynski, a former employee of LinkBrokers Derivatives Corp., a unit of London-based ICAP Plc, pleaded guilty to his role in an scheme that involved lying to clients about the price of securities bought and sold for their accounts.