Komfie Manalo, Opalesque Asia: Steven Cohen was running a successful multi-billion hedge fund before he was forced to shut down in 2014 when one of his traders was caught participating in an illegal insider trading scheme.
Cohen was forced to plead guilty to securities fraud charges and coughed up a $1.8bn in fines and civil penalties for failing to police the action of one trader in his former hedge fund, SAC Capital. He was meted a limited ban to manage other people's money as a result. That ban has ended on December 31, 2017.
This time, Cohen is bent on rebuilding not only his hedge fund, but also his reputation. He is reported to be planning to hire at least 50 internal investigators for his new hedge fund - called Stamford Harbor Capital - whose primary purpose is to prevent a similar event that brought to his downfall and make sure that all his traders' actions comply with the law, reports Business Insider.
Stamford Harbor's "command center" will be at the forefront to ensure that all trades steer clear of regulatory scrutiny, with the compliance officers carefully monitoring not only trades in real time, but also listen in on calls and scour e-mails for any illegal transactions.
To be able to do this, Cohen is building up his "Intelligence Team" comprised of analysts with between five and 10 yea...................... To view our full article Click here
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