TV News LIES

Tuesday, Jul 22nd

Last update01:59:02 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...


Microsoft to cut 18,000 jobs this year as it trims Nokia

MicrosoftMicrosoft Corp said on Thursday it will slash up to 18,000 jobs, or 14 percent of...

Citigroup may pay $7 billion to resolve U.S. mortgage probes

CitigroupCitigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether...

This Nonexistent Social Network With No Revenues and No Assets Is Worth $4 Billion

Nonexistent tech companyIf you thought the potato-salad Kickstarter story was a crazy example of free markets run amok,...

The Closing of Crumbs and the End of the Cupcake Era

Crumbs closesCrumbs Bake Shop shut down all its stores at the close of business on Monday, according...
 
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!