Judge Assigned to Steven A. Cohen Case

WASHINGTON (CH) – Chief Administrative Law Judge Brenda P. Murray will preside over the SEC’s administrative complaint against hedge fund billionaire Steven A. Cohen, the SEC said Tuesday.
     The SEC last week administratively charged Cohen with failing to supervise employees of S.A.C. Advisors who made or avoided losses of hundreds of millions of dollars through inside trading.
     Cohen owns S.A.C. and the accused inside-traders, at least one of whom has pleaded guilty, worked for wholly owned subsidiaries of Cohen’s company.
     The SEC order on Tuesday set a hearing for Cohen at 9:30 a.m. Monday, Aug. 26, at SEC headquarters in Washington.
     Judge Murray must issue an initial decision within 300 days of the Corrected Order Instituting Proceedings – by May 15, 2014.
     The Aug. 26 hearing will be conducted by telephone, unless the parties prefer otherwise.

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