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SAC Hires Compliance Consultant With Ability To Do A Lap Around The Trading Floor And Instantly Predict Who’ll Be Doing Jail TimeBy Bess Levin
Bart M. Schwartz, a former federal prosecutor who has served as an independent monitor in a number of government investigations, will be Steven A. Cohen’s minder, if a federal judge approves. Federal prosecutors and lawyers for Mr. Cohen have agreed on the selection of Mr. Schwartz, 67, to serve as the outside compliance consultant to oversee activities at Mr. Cohen’s investment firm as a condition of SAC Capital Advisors guilty plea to insider trading charges…The selection of a compliance monitor, the cost of which will be borne by Mr. Cohen, had not been previously known. In picking Mr. Schwartz, the chairman and chief executive of Guidepost Solutions, a compliance and security firm based in New York, Mr. Cohen is getting an overseer with long experience in monitoring corporate compliance with government investigations.
Overseer of Compliance at SAC Is Selected [Dealbook]