Judge Jed Rakof ruled that Deep Shah, who is believed to have fled the US to India to avoid the charges, should pay a fine of $24.6 million and a further $9.9 million in disgorgement.
Valerie Szczepanik, an SEC lawyer, told Reuters: âWe try to see if there are any assets we can execute on in the US. If not, we have to explore what our options are."
The US authorities filed civil charges against Mr Shah in 2009, which alleged he provided confidential information and insider tips on business deals to the Galleon Group hedge fund.
He is thought to have provided advance details on the takeover of Hilton hotels by Blackstone and the acquisition of Kronos by Hellman & Friedman.
Mr Shah is believed to be the only defendant charged as part of the government probe not to be arrested.
Raj Rajaratnam, founder of the Galleon Group, was convicted of fraud and conspiracy earlier in the year but is expected to launch an appeal.
By Jim Ottewill