SAC Capital trader jailed for insider trading
Ex-SEC enforcement chief cautions on applying twentieth-century penalties to twenty-first-century crimes following nine-year sentence for Martoma
A US securities lawyer has warned that hedge funds need to have proper procedures in place to stop insider trading, in order to shake off culpability in any legal actions launched by the Securities and Exchange Commission (SEC).
Seth Taube, securities lawyer at New York-based Baker Botts, says the recent jailing of an former SAC Capital trader illustrates that the SEC is "serious" about prosecuting Wall Street for insider trading – often thought to be too difficult to prosecute – adding that
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