Regulator bars Steven Cohen from U.S. Commodity Futures Trading Commission trading until 2018

Steven Cohen Still

Steven A. Cohen will be barred from trading that falls under U.S. Commodity Futures Trading Commission jurisdiction until 2018 after reaching an agreement tied to his Securities and Exchange Commission ban for failing to supervise Matthew Martoma, who was convicted of insider trading.

Bloomberg News reports that Cohen is subject to CFTC sanction because the SEC found that he ignored red flags and failed to take prompt action to determine whether Martoma, a portfolio manager who reported to him, was engaged in unlawful conduct, the agency said in a statement Tuesday.

“Like with the SEC settlement, Steve’s settlement with the CFTC does not impose a financial penalty and Steve neither admits nor denies any allegations,” Kevin O’Connor, general counsel at Point72 Asset Management, Cohen’s family office, said in an employee memo obtained by Bloomberg. “Similarly, the CFTC order places certain limitations on Steve’s activities in CFTC-regulated markets until the expected expiration of the SEC’s restrictions in 2017.”

To access the complete Bloomberg News article hit the link below:

CFTC Imposes Restrictions on Steve Cohen Until 2018

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