Cohen's New Firm Stamford Harbor Can Take Outside Money

To settle charges of insider trading with the SEC, Steve Cohen said he would dissolve his hedge fund SAC Capital, not take outside investment till 2018 and not act in a supervisory role in any investment decision. However, the hedge fund manager seems to have found a way around that. The SEC approved the registration of Stamford Harbor Capital as a money manager on March 14, and the firm is indirectly owned by Steve Cohen.

Cohen has 100% ownership in Stamford Harbor

The firm's brochure says that Steve Cohen owns over 25% ownership in the Delaware-based investment company. Our sources tell that Cohen actually holds 100% ownership of Stamford Harbor. Stamford Harbor anticipates investment in both U.S. and non-U.S.-based entities. The investment manager...