(SKY News) Securities regulators in the US have banned hedge fund manager Steve Cohen from managing other people’s money until 2018. Picasso-collector Cohen, who is believed to be worth over £8bn, has entered a deal with the Securities and Exchange Commission which settles previous allegations of failure to effectively monitor a former portfolio manager who engaged in insider trading. The allegations relate to the supervision of a trader namedMathew Martoma at Cohen’s hedge fund, SAC Capital Advisors, in 2013.Cohen has neither admitted guilt nor denied the charges….
US ‘Hedge Fund King’ Banned By Regulators
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