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SEC, Ex-SAC Playing Nice

Could this be the beginning of a beautiful relationship?
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Sitting in storage, biding its time....

The Feds are giving Steve Cohen & Co. an extra year to wind-down SAC’s side pockets. Because who knows? The way things are going, by this time next year, SAC could be BAC in business.

The Securities and Exchange Commission granted SAC Capital and an affiliate a one-year extension to distribute “side-pocket” investments as the Stamford-based firm winds down its business as a registered investment adviser following a $1.8 billion federal settlement in June 2014….

The SEC indicated it expected a possible request for an extension on a December 31, 2015 deadline for SAC and an affiliate called 72 Credit to distribute side-pocket investments to the family office, with hedge funds setting up side-pocket vehicles to segregate illiquid investments.

SEC gives extension to Stamford hedge fund [Stamford Advocate]


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