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Matt Levine

Steve Cohen Will Pay Extra for Compliance Tips

Now, if you work for Steve Cohen, up to 4 percent of your compensation will depend on your compliance with law, up from the previous level of zero percent.

Point72, Steve Cohen's family office that houses the remains of SAC Capital, decided to troll everyone by declaring that up to 4 percent of its employees' annual compensation will depend on their compliance with the law. This is a significant increase from the previous well-documented standard of zero percent. Somehow a Point72 spokesman actually talked to Bloomberg News about this development, and sounds proud of it, which is itself an interesting data point. Bess Levin has the definitive analysis.

How did this happen, you might well ask. There are some obvious answers. For one thing, a culture of compliance at Point72 really might be a delicate bud that needs to be carefully nurtured with constant cheerleading and incentive programs. For another, I mean, it's not impossible that Steve Cohen spends an hour a day thinking up ways to annoy everyone, is it?