The U.S. Securities and Exchange Commission’s chief administrative law judge will hold a hearing next month into whether billionaire hedge-fund manager Steven A. Cohen should be barred from managing other people’s money.
The U.S. Securities and Exchange Commission will pay $755,000 to a former enforcement attorney who said the agency unjustly fired him after he tried to investigate insider-trading allegations involving former Morgan Stanley Chief Executive Officer John Mack .
There are many ways to fix an accident-prone organization, though I’m partial to the NPR Method, in which moronic blunders are followed by the hasty departure of the offender, and, if called for, a quiet, off-site farewell party for the chief executive.
U.S. Senator Charles Grassley asked the Securities and Exchange Commission to answer allegations that the agency destroyed files from initial investigations of firms including Goldman Sachs Group Inc., SAC Capital Advisors LP and Bernard Madoff Investment Securities LLC.
Pequot Capital Management Inc. and the hedge-fund firm’s founder, Arthur Samberg , will pay almost $28 million to settle regulatory claims they illegally tapped information from a Microsoft Corp. employee to bet on the software maker’s stock in 2001.
U.S. Senator Charles Grassley asked the Financial Industry Regulatory Authority to provide information on the “potential scope of suspicious trading activity” at SAC Capital Advisors LP, the hedge-fund firm founded by billionaire Steven A. Cohen .