Cohen Accused of Failing to Prevent Insider Trading

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July 19 (Bloomberg) -- Steven A. Cohen, the billionaire founder of hedge fund SAC Capital Advisors LP, was accused by U.S. regulators of failing to supervise two employees facing criminal charges that they illegally traded stocks based on confidential information. Su Keenan reports on Bloomberg Television's "Money Moves." (Source: Bloomberg)

The fcc -- the sec is suing steve a: for ailing to supervise to employees and prevent them from alleged insider trading.

More on these headlines.

This is just crossing.

This is big news.

It is the first former -- formal target of the sec.

It has administrative order -- the sec is suing cohan a for to supervise traders, they'll years to supervise managers of the funds, the portfolio managers.

With talk to many legal observers that have pointed out that this is an option that the government has had that if there was a legal trading taking place that there could be low -- the liability for that.

That appears to be the manner the sec is approaching this.

It is an administrative order, not a criminal charge.

I am sure more details will come out on this.

It is a significant change and a significant move for the government against stephen: -- against stephen cohen.

We talked about a superseding indictment that might be coming forward regarding matthew mark,. we have yet to hear what the government is doing in that regard.

We will bring you all of these headlines from myself that you need to know about.

This text has been automatically generated. It may not be 100% accurate.

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