{"id":36880,"date":"2013-07-22T10:44:54","date_gmt":"2013-07-22T14:44:54","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36880"},"modified":"2013-07-22T11:14:51","modified_gmt":"2013-07-22T15:14:51","slug":"hedge-fund-adviser-steven-cohen-charged-with-oversight","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2013\/hedge-fund-adviser-steven-cohen-charged-with-oversight.html","title":{"rendered":"Hedge Fund Adviser Steven Cohen Charged With Oversight"},"content":{"rendered":"

\"Cohen<\/a>New York (HedgeCo.Net) – The SEC has finally found a way to go after Steven Cohen, the new case alleges that Cohen received highly suspicious information that any reasonable hedge fund manager would investigate, yet he did not.<\/p>\n

The SEC says; “Instead of scrutinizing their (traders) conduct, Cohen praised a trader for his role in the suspicious trading and rewarded another with a $9 million bonus for his work.\u00a0 Cohen\u2019s hedge funds earned profits and avoided losses of more than $275 million as a result of the illegal trades.”<\/p>\n

“Hedge fund managers are responsible for exercising appropriate supervision over their employees to ensure that their firms comply with the securities laws,” said Andrew J. Ceresney, Co-Director of the SEC\u2019s Division of Enforcement. \u00a0“After learning about red flags indicating potential insider trading by his employees, Steven Cohen allegedly failed to follow up to prevent violations of the law.\u00a0 In addition to the more than $615 million his firm has already agreed to pay for the alleged insider trading, the Enforcement Division is seeking to bar Cohen from overseeing investor funds.”<\/p>\n

In connection with these cases, CR Intrinsic, an affiliate of Cohen\u2019s firm S.A.C. Capital Advisors,\u00a0agreed to pay more than $600 million\u00a0in the largest-ever US insider trading settlement.\u00a0 Another Cohen affiliate, Sigma Capital,\u00a0agreed to pay nearly $14 million\u00a0to settle insider trading charges.<\/p>\n

Alex Akesson
\nEditor for\u00a0HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a>\u00a0is a premier\u00a0hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – The SEC has finally found a way to go after Steven Cohen, the new case alleges that Cohen received highly suspicious information that any reasonable hedge fund manager would investigate, yet he did not. The SEC […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-36880","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36880","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=36880"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36880\/revisions"}],"predecessor-version":[{"id":36899,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36880\/revisions\/36899"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}