TV News LIES

Friday, Jul 29th

Last update05:20:13 AM GMT

You are here News Economy SEC seeking to ban SAC's Cohen from financial industry

SEC seeking to ban SAC's Cohen from financial industry

E-mail Print PDF

Steve CohenU.S. securities regulators took their boldest step yet in a long-running insider trading probe against Steven A. Cohen, declaring Friday they would try to bar the hedge fund mogul from managing other people's money.

Legal experts said the charges represented a strategic calculation by the SEC that some action had to be taken, but that the agency could end up struggling to prove its case.

The Securities and Exchange Commission charged Cohen, 57, with failing to supervise former SAC Capital Advisors portfolio manager Mathew Martoma and SAC executive Michael Steinberg, both of whom face criminal and civil insider trading charges.

The civil administrative proceeding is the most serious challenge yet to Cohen and his standing in the industry he helped build and which made him billions.

More...


Most Recent Related Stories...


FBI arrests senior HSBC banker accused of rigging multibillion-dollar deal

HSBCA senior HSBC banker has been arrested by the FBI as he attempted to board a...

Stocks rebound after Brexit sell-off; Dow closes up more than 250 points

NYSEU.S. stocks closed higher Tuesday, lifted by gains in oil prices, as investors looked for bargains...

Puerto Rico Defaults on Constitutionally Guaranteed Debt

Puerto Rico defaults The Puerto Rican government failed to pay almost half of $2 billion in bond payments due...

A third of cash is owned by 5 U.S. companies

Cash owned by five corporationsThe rising cash holdings of U.S. corporations is increasingly in the hands of a few U.S....
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!