Stored inside a laptop at FBI headquarters are photos of thousands of paintings, sculptures and artifacts, works by Vincent Van Gogh and Henri Matisse, Pablo Picasso and Paul Cezanne -- international treasures worth millions of dollars each. All are missing.
Steven Cohen’s SAC Capital Advisors LP is giving clients more time to decide whether to pull money from the firm’s hedge funds amid a government investigation of insider trading, said a person familiar with the matter.
SAC Capital Advisors LP, the hedge- fund firm that agreed in March to pay more than $600 million to settle insider-trading allegations, is strengthening compliance rules, including clawing back compensation for portfolio managers and analysts who violate securities laws.
A U.S. appeals court struck a Securities and Exchange Commission civil-penalty claim against Marc J. Gabelli and another Gabelli Funds LLC official after the Supreme Court ruled the agency filed the claim too late.
Steven Cohen’s SAC Capital Advisors LP is giving investors more time to decide whether to pull money from its hedge funds, as they await approval of the firm’s record insider-trading settlement with regulators.
U.S. investigators have subpoenaed a 2011 deposition of SAC Capital Advisors LP founder Steven Cohen, whose sworn statements on insider-trading compliance may hurt him as he tries to persuade regulators not to file a lawsuit with the potential to shut his $14 billion firm.
Yip Ka-hay, the first Asia-based manager hired by Steven Cohen’s $15 billion SAC Capital Advisors LP, plans to start a macro hedge fund in July to trade currencies, interest-rate securities and equity indexes in the region.