Fund managers sweep for bugs

HEDGE fund managers have turned to private security firms to shore up their offices and homes amid fears bugs could have revealed insider-trading practices, according to reports.

The development comes after federal prosecutors in New York filed criminal charges against more than 40 traders over alleged shared information about company information.

Many firms have sought peace of mind by having their offices swept for listening devices as the government cracks down. The government is focusing on insider trading allegedly done using ‘expert networks’.