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Point72 Asset Management Bans Electronic Communication That Could Lead To “Confusion And Inaccuracy”

“Confusion and inaccuracy” is what we’re calling you-know-what now (insideray radingtay).

Point72 Asset Management LP, Steven A. Cohen’s family office and successor to his hedge-fund firm SAC Capital Advisors LP, is banning some of its employees from using instant messaging for external communication after last year agreeing to settle insider trading allegations. “This prohibition of IMs will reduce the highly informal communications inherent with instant messaging that can lead to confusion and inaccuracy, reflecting our continuing commitment to pursue all reasonable steps to prevent inappropriate information from entering the firm,” Chief Surveillance Officer Vincent Tortorella wrote in a memo sent today to the firm’s employees. The policy, effective June 16, applies to money managers, analysts and management in long-short and quantitative strategies and blocks the use of instant messages, or IMs, including Bloomberg messaging, for outside communication, according to the memo, a copy of which was obtained by Bloomberg News.

Cohen’s Point72 Bans Instant Messaging for Some Managers [Bloomberg]

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5 Responses to “Point72 Asset Management Bans Electronic Communication That Could Lead To “Confusion And Inaccuracy””

  1. Captain Oblivious says:

    I am Stevie. I am Unsullied. Preet has my balls in jar

  2. Guest says:

    Carrier pigeons will be provided to all brokers to relay their edge ideas. Please insure that all pigeons are fed twice daily with Pet Smart bird feed.

    -Head of Compliance

  3. Ma Ma MY Martoma says:

    Guys we are going to get our inside information the old fashioned way. We will dress as the night janitor and rifle through their files. Those on the day shift will also be provided drinking glasses for hearing through doors/walls. You will each find a uniform in your locker.

    Head SAC Trader

  4. Quant me maybe... says:

    Conference calls are held at Point72

    <img src="http://iamthewitness.com/img/Maxwell_Smart_in_cone_of_silence.JPG"/&gt;