It could be months, maybe even years, before there is a resolution of the Securities and Exchange Commission’s administrative case against the billionaire investor Steven A. Cohen, whose former hedge fund pleaded guilty to insider trading. In a letter Wednesday to the administrative judge overseeing the S.E.C.’s action against Mr. Cohen, which accuses him of failing to supervise his employees, federal prosecutors requested an extension of an earlier stay that has been in place since August. Prosecutors want the proceeding stayed pending the outcome a closely watched appeal of the convictions of two former hedge fund managers, which could lead to new trials not only for them but potentially others convicted of insider trading. [Dealbook]
Fire Up The Super Duper Weenie Truck: Steve Cohen's Got A Party To Plan
It's the happiest of holidays up in Stamford, CT.
Steve Cohen Is Boosting Pay For Top Traders (And Lowering It For Dumb Losers)
Ask yourself if you even deserve a seat on his trading floor.