RBC First-Year Analyst Gets Probation for Insider Trading (1)

A junior analyst at RBC Capital Markets who racked up tens of thousands of dollars in credit card debt he blamed on pressure to keep up with “the extravagent lifestyle“ of other young investment bankers, avoided prison for insider trading.

Bill Tsai, 23, was sentenced Friday to five years of probation, including 90 days in a halfway house.

”I am so sorry,” a tearful Tsai told U.S. District Judge Victor Marrero in Manhattan before the sentence was handed down. “I made a terrible mistake. I’ve brought so much shame to my entire family.”

Marrero rejected prosecutors’ arguments that Tsai be ...