SAC Capital’s record fine is warning to hedge funds
Hedge funds to review procedures and systems following SAC's $614 million fine
The US Securities and Exchange Commission (SEC) has fined hedge fund SAC Capital $614 million for insider dealing.
The settlement was agreed for two separate incidents at SAC Capital. Hedge fund advisory firm CR Intrinsic Investors, an affiliate of SAC Capital, agreed to pay $600 million, the largest ever settlement for insider dealing. Sigma Capital Management, meanwhile, which is also an
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