Creative CDs for saving.

The Securities and Exchange Commission today charged a former portfolio manager at hedge fund investment adviser Millennium Partners L.P. and a salesman at Deutsche Bank Securities Inc. in the first insider trading case involving credit default swaps (CDS).
With the help of the U.K.’s Financial Services Authority, the SEC investigated Renato Negrin and Jon-Paul Rorech, who they now charge with collaborating in a scheme to profit from changes to a proposed bond offering of VNU,  an international holding company that owns Nielsen Media and other media businesses.
According to the SEC’s complaint, Rorech illegally tipped Negrin about the contemplated change to the bond structure, and …read more