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’SEC Charges Pequot Capital and CEO Samberg with insider trading
It’s been a busy week for financial regulators, and a mixed one — at best — for hedge funds.
On Thursday, the SEC said it had charged Pequot Capital Management and its chairman and chief exec Arthur Samberg with insider trading in Microsoft shares.
Samberg to close fund amid probe
Arthur Samberg, one of the world’s best known hedge fund managers, is closing down his hedge fund, Pequot Capital Management, saying public disclosures of the reopening of a government probe into allegations of insider trading made its continued operation “untenable”.
Arthur Samberg’s Pequot Capital to close
This is big. From the WSJ:
Arthur Samberg, among the best-known hedge-fund managers, is closing down his firm amid an ongoing investigation into possible insider trading.
“Public disclosures about the continuing investigation have cast a cloud over the firm and have become a source of personal distraction,”