The US investigation into insider trading and hedge funds has been going on for so long that it is easy to overlook its significance. But the insider trading complaint against Rajat Gupta, former managing director of McKinsey & Co, is extraordinary.
Mr Gupta is by far most senior figure to be caught up in the insider trading investigation involving Raj Rajaratnam and the Galleon Fund. The SEC has accused Mr Gupta of leaking information that he gained as a board director of Goldman Sachs and Procter & Gamble. Read more