Daily Archives: July 22, 2013, 1:05 pm

SEC Lodges ‘Failure to Supervise’ Charge Against SAC’s Cohen, Will Seek Industry Bar – Compliance Week

On Friday, the SEC became the first securities enforcer to go after SAC’s Steve Cohen, charging that Cohen failed to supervise two senior employees and prevent them from engaging in insider trading. Will Preet Bharara and the SDNY be next? via SEC Lodges ‘Failure to Supervise’ Charge Against SAC’s Cohen, Will Seek Industry Bar – Compliance Week

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SEC Tries Last Ditch Move to Put SAC’s Cohen Out of Business – Bloomberg Law

In the end, billionaire Steven Cohen, one of the most successful hedge-fund managers of his generation, could end up getting banned from the business he dominated for an error of omission, not commission. In an administrative action that constitutes its first formal salvo against Cohen, the U.S. Securities and Exchange Commission alleged he failed to supervise two wayward portfolio managers and…

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SEC’s White Takes on Two Billionaires in One Day to Make Mark – Bloomberg

U.S. Securities and Exchange Commission Chairman Mary Jo White picked fights with two billionaire hedge-fund managers this week, the strongest signs yet that she plans to run the “bold and unrelenting” enforcement program she promised. Under her leadership, the commission voted to seek sanctions against Steven A. Cohen, the founder of SAC Capital Advisers LP, who had so far escaped…

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