Mark A. Kornfeld quoted in article “U.S. SEC seeking to ban SAC’s Cohen from financial industry”Thomson Reuters 07/19/13
Reuters reported on July 19 ("U.S. SEC seeking to ban SAC's Cohen from financial industry") that the Securities and Exchange Commission (SEC) took a bold step in its insider trading investigation of Steven A. Cohen. It charged Cohen with failing to supervise former SAC Capital Advisors portfolio manager Mathew Martoma and SAC executive Michael Steinberg, both of whom face criminal and civil insider trading charges.
U.S. securities regulators want to try and bar the hedge fund mogul from managing other people's money. Partner Mark Kornfeld told Reuters that "I think this is certainly, at this stage, a victory for Cohen to avoid far more serious charges."
Originally published in Thomson Reuters, July 29, 2013