Hedge Fund Advisory Firm Sigma Capital Management Agrees to Settle Charges of Insider Trading for $14 Million

The SEC announced that the New York-based hedge fund advisory firm, Sigma Capital Management, has agreed to pay nearly $14 million to settle charges that the firm engaged in insider trading. The charges are based on the use of material nonpublic information obtained through one of its analysts, who agreed to a settlement earlier this month in which he admitted liability.

See: SEC Complaint and Litigation Release.