{"id":32739,"date":"2012-11-29T07:34:00","date_gmt":"2012-11-29T12:34:00","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=32739"},"modified":"2012-11-29T08:26:23","modified_gmt":"2012-11-29T13:26:23","slug":"sec-preparing-civil-suit-against-cohens-hedge-fund-sac-capital","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2012\/sec-preparing-civil-suit-against-cohens-hedge-fund-sac-capital.html","title":{"rendered":"SEC Preparing Civil Suit Against Cohen’s Hedge Fund SAC Capital"},"content":{"rendered":"

\"\"<\/a>New York (HedgeCo.Net) – A week after hedge fund trader\u00a0Mathew Martoma<\/a>\u00a0was charged with insider trading, the SEC is going after the hedge fund in question, Steven A. Cohen’s hedge fund SAC Capital, according to people familiar with the situation.<\/p>\n

“In a call with investors Wednesday morning, SAC Capital Advisors revealed that it had received a notice from the SEC detailing charges that the government is preparing to file against the firm, according to a person familiar with the call.” The Washington Post reports.<\/em><\/p><\/blockquote>\n

Both SAC and Cohen are cooperating with the SEC investigation.\u00a0Cohen and the hedge fund are \u201cconfident they have acted appropriately and will continue to cooperate with the government\u2019s inquiry.\u201d\u00a0\u00a0A SAC spokesman said. Not all\u00a0inquiries\u00a0are followed up by lawsuits.<\/p>\n

“The SAC case illustrates the growing concern over insider trading among hedge funds. Since passage of Dodd-Frank, you have more than 1,000 newly registered funds acting as investment advisers,” Marc Powers, head of the securities litigation and enforcement practice at BakerHostetler says. “Not only are there potential 10b-5 violations but advisers are required to have proper policies and procedures in place to prevent misuse of material non-public information. Failure to have these in place exposes hedge funds to separate charges that can bring substantial penalties and create steep reputational damage among institutional investors, who are notoriously wary of money managers with regulatory problems.”<\/p>\n

Alex Akesson
\nEditor for HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a> is a premier hedge fund database<\/a> and community for qualified and accredited investors only. Membership in HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – A week after hedge fund trader\u00a0Mathew Martoma\u00a0was charged with insider trading, the SEC is going after the hedge fund in question, Steven A. Cohen’s hedge fund SAC Capital, according to people familiar with the situation. “In […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-32739","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=32739"}],"version-history":[{"count":11,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32739\/revisions"}],"predecessor-version":[{"id":32741,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32739\/revisions\/32741"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=32739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=32739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=32739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}