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SEC charges Steven A. Cohen with failure to supervise employees
Source: Reuters
SEC charges Steven A. Cohen with failure to supervise employees
NEW YORK | Fri Jul 19, 2013 2:21pm EDT
(Reuters) - The Securities and Exchange Commission filed a civil administrative proceeding on Friday against hedge fund mogul Steven A. Cohen for failing to supervise two employees who are accused of insider trading.
The SEC's action says Cohen failed to supervise former portfolio manager Mathew Martoma and SAC Capital Advisors executive Michael Steinberg.
"Cohen ignored the red flags and allowed Martoma and Steinberg to execute the trades," the SEC said, in several stocks where the agency found evidence of insider trading.
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NEW YORK | Fri Jul 19, 2013 2:21pm EDT
(Reuters) - The Securities and Exchange Commission filed a civil administrative proceeding on Friday against hedge fund mogul Steven A. Cohen for failing to supervise two employees who are accused of insider trading.
The SEC's action says Cohen failed to supervise former portfolio manager Mathew Martoma and SAC Capital Advisors executive Michael Steinberg.
"Cohen ignored the red flags and allowed Martoma and Steinberg to execute the trades," the SEC said, in several stocks where the agency found evidence of insider trading.
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Read more: http://www.reuters.com/article/2013/07/19/us-sec-cohen-charges-idUSBRE96I0YG20130719
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