SEC Bars Steven A. Cohen From Supervising Any Fund With Outside Money

The Securities and Exchange Commission on Friday said it's barred Steven A. Cohen from supervising funds that manage outside money until 2018, over allegations he failed to supervise a former portfolio manager who engaged in insider trading while employed at his firm. Cohen didn't admit or deny the SEC findings, and in any case, he now manages his own money for what's called Point72 Asset Management. The SEC said Cohen should have looked into whether former portfolio manager Mathew Martoma was engaged in insider trading. SAC Capital paid $1.2 billion in 2013 to resolve criminal charges brought by the U.S. Attorney's Office for the Southern District of New York.