Meet The First Moore Capital Trader To Get Busted For Insider Trading

louis bacon moore

Photo: turtletrader.com

The FSA arrested trader at Louis Moore Bacon’s Moore Capital on Tuesday.So far seven have been arrested in the FSA’s latest insider trading bust.

Matthew Goldstein and Svea Herbst-Bayliss at Reuters dug into Moore Cap’s past with insider trading and found this, another “trader gone rogue,” the same term that might soon be officially coined for Julian Rifat, now that (it appears anyway) Moore Cap is saying that none of Rifat’s insider info-driven trades were done with company money.

There was another rogue trader back in 2008:

In September 2008, Steven Harrison, a former top Moore Capital trader in London, paid a $78,000 fine to settle a “market abuse” investigation by British regulators. The Financial Services Authority found Harrison had received inside information before telling another trader to buy some corporate bonds.

Read more >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.