January 8, 2016 / 6:21 PM / 4 years ago

SEC bars Steven A. Cohen from supervisory hedge fund rule

Jan 8 (Reuters) - The hedge fund manager Steven A. Cohen has been barred from supervising funds that manage outside money until 2018 to settle charges he failed to supervise a former portfolio manager convicted of insider trading, the U.S. Securities and Exchange Commission said on Friday.

Cohen did not admit or deny the SEC’s findings related to his oversight of Mathew Martoma, who worked for the CR Intrinsic unit of his firm SAC Capital Advisors LLC.

A spokesman for Cohen was not immediately available for comment. (Reporting by Jonathan Stempel in New York; Editing by Chris Reese)

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