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- Sep 30, 2011
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Billionaire investor Steven A. Cohen reached a settlement with regulators that clears him to return to managing out side money in two years, a remarkable turnaround for the Wall Street veteran after years of legal fights.
Long a target of law-enforcement authorities, Mr. Cohen’s SAC Capital Advisors LP pleaded guilty to insider trading in 2013, paid $1.8 billion in penalties, and shrank to manage only his own fortune. One of his confidants at SAC was convicted, and the Securities and Exchange Commission sought to have Mr. Cohen barred for life from the industry. Mr. Cohen was never criminally charged.
Deal Ends SEC’s Pursuit of Steven Cohen
He will be back in two years.
Long a target of law-enforcement authorities, Mr. Cohen’s SAC Capital Advisors LP pleaded guilty to insider trading in 2013, paid $1.8 billion in penalties, and shrank to manage only his own fortune. One of his confidants at SAC was convicted, and the Securities and Exchange Commission sought to have Mr. Cohen barred for life from the industry. Mr. Cohen was never criminally charged.
Deal Ends SEC’s Pursuit of Steven Cohen
He will be back in two years.
