Bloomberg News reports that inside what will be his Stamford Harbor Capital sits a command center in the middle of the trading floor. There, a 50-member compliance team is strategically positioned to listen in on traders’ conversations in real time, comb through emails for suspicious language and even veto job candidates.
The room is part of billionaire Cohen’s preparations to open the fund after his two-year ban on managing outside capital ended last week. The new firm, based in the same Stamford, Connecticut-based building as his family office, is slated to manage $3 billion to $4 billion of client money in addition to his own $10 billion-plus fortune.
In 2015 he hired chief legal officer Kevin O’Connor, who once held the third-highest ranking position at the Justice Department. As part of his deal with the government, there’s an outside monitor - Michael Considine, an attorney at Seward & Kissel, who reports directly to the U.S. Securities and Exchange Commission and will continue to file periodic reports until at least the end of 2019.
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