Steven Cohen Barred From Commodities Trading Until 2018
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Steven A. Cohen, chairman and chief executive of Point72 Asset Management, formerly SAC Capital Advisors. In January, Mr. Cohen was barred from managing other people’s money for two years. Now he has agreed to refrain from commodities trading activities until 2018. CreditLucy Nicholson/Reuters
Steven A. Cohen, the billionaire hedge-fund manager, has agreed in a settlement to refrain from engaging in any activities overseen by federal commodities regulators until at least Dec. 31, 2017.
The settlement, announced Tuesday by the Commodity Futures Trading Commission, follows an action brought against Mr. Cohen by the Securities and Exchange Commission over insider trading at his firm, SAC Capital Advisors.
Federal prosecutors accused SAC Capital, one of the biggest and most successful hedge funds, of illegal insider trading, and said Mr. Cohen, its founder and owner, had enabled the misconduct. SAC Capital agreed in 2013 to plead guilty to criminal fraud charges and to pay $1.8 billion, at the time the largest financial penalty for insider trading, according to prosecutors…
Steven Cohen Barred From Commodities Trading Until 2018
