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Outside Point72 Asset Management Monitor Has Inside Ties But It’s Fine

Bart M. Schwartz, the outside consultant tapped by Steven A. Cohen and federal prosecutors to monitor the operations at Mr. Cohen’s new family office, has closer ties to the firm than previously known. The son of an executive at Mr. Schwartz’s nationwide compliance consulting firm is a portfolio manager at Point72 Asset Management, the firm formerly known as SAC Capital Advisors. Mr. Schwartz said that the potential conflict was disclosed to Mr. Cohen and his legal team and that federal prosecutors and all sides were comfortable with the situation. Mr. Schwartz, a former federal prosecutor, said that he disclosed the matter to the parties soon after he was approached about serving as the outside consultant for Mr. Cohen’s firm. [Dealbook]

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9 Responses to “Outside Point72 Asset Management Monitor Has Inside Ties But It’s Fine”

  1. ThatsWacc says:

    Doesn't the tittle on the i in "Point" technically make it 73 points?

    – Guy who sweats the small stuff.

  2. Guest says:

    That's one bad name Harry.

  3. Stevie says:

    I just cannot lose.

  4. Guest says:

    Who's best to know about insider trading than an insider.

  5. Guest says:

    Take away the "Asset Management" and it could just as easily be a weekly congregation spot for a local Stitch and Bitch.

  6. Guest says:

    No need to monitor the PM son then.