SAC’s CFTC Registrations Revoked

Sep 17 2014 | 1:48pm ET

The Commodity Futures Trading Commission has revoked SAC Capital Advisors’ registration due to its guilty plea to insider-trading charges.

The regulator said that it had disqualified SAC Capital Advisors LLC and SAC Capital Advisors LP as commodity pool operators and commodity trading advisers. The LLC was also barred from activities that require the registrations.

The move will have no effect on the firm, now called Point72 Asset Management, because the firm agreed to cease managing outside capital and become a family office as part of its $1.8 billion plea agreement, struck in November. Family offices are not required to register with the CFTC.

SAC LLC’s CFTC registration was revoked immediately. SAC LP’s will be revoked on Dec. 31, 2015.


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