TV News LIES

Wednesday, Dec 13th

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...


U.S. trade gap soars as imports from China hit record high

trae deficit soars The U.S. trade deficit jumped 8.6 percent in October as imports from China and other suppliers...

Richest 1% now owns half the world's wealth

Richest 1% own half the world's wealth The wealthiest 1% of the world's population now owns more than half of the world's wealth,...

The GOP tax plan could negatively affect your Social Security benefits

Tax reform? No, tax CUTS for the wealthy!Without a guaranteed monthly stipend, the number of seniors living below the federal poverty level could...

After a Tax Crackdown, Apple Found a New Shelter for Its Profits

Apple found new island to shelter its billionsIt was May 2013, and Mr. Cook, the chief executive of Apple, appeared before a United...
 
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!