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Steve Cohen May Seek SEC Deal to Manage Client Money Once Again

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Billionaire Steve Cohen, who shut down SAC Capital Advisors last year to settle charges of insider trading against the firm, may be looking to manage money for clients again.

Executives at Point72, the firm where Cohen now manages his personal fortune, are considering asking the U.S. Securities and Exchange Commission to limit any potential ban on managing outside capital to three-years, according to two people familiar with the matter. When the SEC brought an administrative proceeding against the 58-year-old billionaire in 2013, regulators said they would seek to bar Cohen from overseeing others’ capital.