The long-running federal crackdown on insider trading took a major leap Wednesday, as authorities announced a slew of charges against hedge funds, analysts and traders. The government accused those charged of forming a trading ring that netted $78 million in illicit profits, most of it based on advance word about computer-maker Dell’s quarterly financial results. An unnamed employee in Dell’s investor relations department leaked financial secrets, the government said. Read full article > >

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Two major hedge funds charged in insider trading case

The penalty is the largest ever assessed against a person in a Securities and Exchange Commission insider trading case.

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DealBook: Rajaratnam Ordered to Pay $92.8 Million Penalty

The Securities and Exchange Commission adopted a new set of disclosure rules for hedge funds, private equity funds and other private money managers Wednesday, but it backed off on several of the tougher requirements it had originally proposed. The agency also exempted many firms from the new rules, saying they will apply only to those with at least $150 million under management. Read full article > >

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SEC waters down, adopts disclosure rules for money managers

The punishment for Raj Rajaratnam, the former chief of the Galleon Group, though less than the government sought, was the longest prison sentence ever for insider trading.

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DealBook: Hedge Fund Founder Gets 11-Year Term in Insider Case

The punishment for Raj Rajaratnam, the former chief of the Galleon Group, though less than the government sought, was the longest prison sentence ever for insider trading.

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DealBook: Hedge Fund Founder Gets 11-Year Term in Insider Case

Michael Kimelman could have avoided prison by accepting a plea deal, but was convicted as part of a Galleon Group insider-trading circle and sentenced to two and a half years.

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DealBook: Caught in a Wide Web, a Trader Faces Prison

For a number of hedge fund managers and traders, playing chess well has been among their better career moves.

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DealBook: Good at Chess? A Hedge Fund May Want to Hire You

They arrive every week, in ones and twos and groups of 10, some of them coming straight from Sao Paulo, Brazil’s international airport. These investors head for the dark-wood halls of Credit Suisse Hedging-Griffo as supplicants, asking to put their millions into one of the world’s top-performing hedge funds. The answer from the fund’s managers is often a polite but firm no. Hedging-Griffo’s Verde fund has returned an annualized average of 33 percent since 1997. One American offered to sign a contract that wouldn’t allow him to ask for his cash back for three years, says Luiz Paulo Parreiras, strategist for the firm. Read full article > >

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Brazilian hedge funds trounce competition

Known for seeking companies with potential that others have dismissed, then betting on their long-term revival, David Einhorn said he will spend $200 million for a stake in the Mets.

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A Hedge Fund Manager’s Latest Bet: The Mets

David Einhorn is reportedly in exclusive negotiations to buy a minority stake in the team.

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DealBook: Hedge Fund Chief Said to Be in Talks for Mets Stake

The Goldman Sachs chief executive tells jurors that September 2008 was “a dangerous time” that “made us nervous.”

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DealBook: Blankfein Describes Financial Crisis Board Meetings at Galleon Trial

In the opening statements for Raj Rajaratnam’s trial for insider trading, the lawyers previewed the case’s evidence.

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DealBook: Greed vs. Diligence in Galleon Trial

No one at Level Global has been accused of any wrongdoing, but its reputation has been damaged by the F.B.I. raid and it has closed.

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DealBook: For Level Global, F.B.I. Raid Is a Final Blow

The S.E.C. claims that Rajat Gupta, a former managing director of McKinsey, tipped off Galleon Group’s founder about Warren E. Buffett’s $5 billion investment in Goldman Sachs.

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DealBook: Former Goldman Director Charged With Insider Trading

Dynegy said its top management team, including its chief executive, plan to resign, as the company failed in its second attempt to sell itself.

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DealBook: Dynegy’s Top Management to Resign