NEW YORK : A former Wall Street quantitative analyst was charged on Thursday with insider trading for making nearly 2,900 trades after learning his employer would soon make the same trades for clients, known as front-running.
Lawyers could not immediately be identified for Polevikov, who was arrested on Wednesday night. Polevikov worked for OppenheimerFunds during the alleged front-running, according to a public records search. In a related civil complaint, the U.S. Securities and Exchange Commission said 2,858 of Polevikov's 2,874 overlapping trades were in the same direction as his employer's.
Polevikov"violated not just the terms of his employment but also the law when he exploited material, nonpublic information to make personal trades ahead of large institutional trades," U.S. Attorney Audrey Strauss in Manhattan said in a statement.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Rare Australia earthquake triggers panic in Melbourne'The whole building was shaking. All the windows, the glass, was shaking – like a wave of shaking,' said Zume Phim, owner of Melbourne's Oppen cafe, who rushed onto the street when the temblor hit.
Source: YahooSG - 🏆 3. / 71 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Biden non-committal on US-UK free trade dealWASHINGTON — US President Joe Biden on Tuesday (Sept 21) refrained from making any commitment to a free trade agreement with the United Kingdom, only saying the issue was under discussion while receiving the British premier at the White House.
Source: TODAYonline - 🏆 1. / 99 Read more »
Australia sets conditions for China joining Pacific pactChina must end a freeze on contacts with senior Australian politicians if it hopes to join a trans-Pacific trade pact, Canberra's trade minister said Wednesday, setting de facto preconditions for accession.
Source: YahooSG - 🏆 3. / 71 Read more »
Freshworks valued at US$ 10.13 billion after raising US$ 1.03 billion in US IPO - source(Corrects to add media packaging code)NEW YORK : Business software firm Freshworks, which counts Accel and Sequoia Capital among its major backers, on Tuesday priced its U.S. initial public offering (IPO) well above the target range to raise US$1.03 billion, a source familiar with the matter said.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »