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Hedge fund adviser charged with inadequate insider trading controls

Joe Mont | August 22, 2017

Hedge fund advisory firm Deerfield Management Company has agreed to pay more than $4.6 million to settle charges bright by the Securities and Exchange Commission that it failed to establish, maintain, and enforce policies and procedures reasonably designed to prevent the misuse of inside information, including information about confidential government decisions.

The announcement, made on Aug. 21, relates to insider trading charges the SEC recently filed against current and former Deerfield analysts, a political intelligence analyst who passed them information, and an employee at the Centers for Medicare and Medicaid Services.

According to the SEC’s order, Deerfield conducted extensive research in the health care sector to help inform its investment decisions, and engaged research firms specializing in political intelligence about... To get the full story, subscribe now.