Hedge Fund SAC Capital May Pay Record Insider-Trading Fine

Infamous hedge fund SAC Capital is reportedly close to an agreement with prosecutors to settle insider-trading charges for more than $1 billion. Insider trading is one of the most egregious forms of securities fraud. Such a fine would be a record. Reports state that the settlement could be finalized by the end of October 2013. The Securities and Exchange Commission has stated that it would seek to bar firm owner and founder, Steven A. Cohen, from the securities industry.