Saturday, 30 August 2014
Last updated 1 day ago
Aug 5 2013 | 10:26am ET
SAC Capital Advisors founder Steven Cohen's legal team wants a look at the Securities and Exchange Commission's evidence against their client—even if that case is to be delayed.
On Friday, Cohen's lawyers said they favored the Justice Department's request that the SEC's civil case against Cohen be stayed pending the outcome of the criminal insider-trading case against the hedge fund itself. But that support comes at a price: "immediate access" to the roughly 375 million pages that make up the agency's "administrative record" about SAC.
The SEC, which has accused Cohen of failure to supervise and which is seeking to bar him from trading, has roughly five times as much evidence as do prosecutors in the fraud case.
"The pendency of related criminal proceedings should not serve as a reason to delay the production of the SEC's investigative file in this proceeding," Cohen's lawyers wrote.
The U.S. Attorney's Office in Manhattan last week asked the SEC's chief administrative law judge to put a hold on the civil case until the criminal case reaches its conclusion. SAC has pleaded not guilty to fraud charges.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...