SAC's Cohen Rapped as `Bad Boss' in SEC Action

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July 22 (Bloomberg) -- Bloomberg's Dominic Chu digs into the allegations against SEC Capital CEO Steve Cohen as the SEC brings an administrative action against him for failing to supervise his employees. He speaks on Bloomberg Television's "In The Loop."

That is the key point.

Among the most successful hedge fund managers in history will fight a lesser battle with the government.

They said to fall -- file and administrative action, accusing him of failing to supervise his employees properly.

That kaelin was a bad boss when it came to operating the company.

They're looking to ban him for life using this non-court action.

They claimed that he should have known that his employees, michael steinberg, matthew cohen, were using material information to avoid losses of millions of dollars.

The sec will have a lesser burden of proof with this kind of action rather than charging that an outright crime.

A spokesperson says that the sec policy action is without merit and that he acted appropriately at all time.

Then he will fight these charges vigorously.

Remember, his empire is big.

60% of that is either his own money or employee money.

Still a big charge against steve callahan.

It is.

He has had a laser on him for

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

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