The Sins of SAC Capital's Steven Cohen at Tech2Trade Expo 2013's HFT Conference in New York City

NEW YORK - July 22, 2013 - PRLog -- According to The Wall Street Journal, the Securities and Exchange Commission (SEC) recently filed a civil-enforcement action against SAC Capital Advisors LP chief Steven A. Cohen, alleging he ignored "red flags" that should have alerted him to insider trading "under his watch." The SEC said Mr. Cohen "failed to take reasonable steps to investigate and prevent" insider trading at the Stamford, Conn., hedge-fund firm.

The move is the first time regulators in the investigation have brought an action against Mr. Cohen personally. His firm, one of the most successful on Wall Street over the past two decades, has in recent years been the subject of a long-running investigation into insider-trading that has resulted in criminal charges against a number of traders and others with ties to SAC. But, while trading involving Mr. Cohen has been cited in government documents related to those cases, he hasn't been criminally charged in those matters or any other.

According to the SEC's order, Mr. Martoma and Mr. Steinberg obtained material nonpublic information about publicly traded companies in 2008, and they traded on that information. The government charged Mr. Martoma with insider trading last year and charged Mr. Steinberg earlier this year. Messrs. Martoma and Steinberg have pleaded not guilty. Mr. Steinberg's lawyer has said he did nothing wrong. Mr. Martoma's lawyer has said the case against him is based on innuendo. The SEC alleges Mr. Cohen ignored "highly suspicious information" that should have prompted "any reasonable hedge fund manager" to investigate.

To further elaborate on SEC enforcement issues in the world's most highly sophisticated market structure, Robert Cohen, Assistant Director of Market Abuse Unit, Division of Enforcement, U.S. Securities and Exchange Commission, will keynote High Frequency Trading Leaders Forum 2013 New York City (http://www.HFTLeadersForum.com), July 30th, as part of Tech2Trade Expo 2013 New York City (www.Tech2TradeExpo.com).

Cohen joined the Securities and Exchange Commission in 2004. He has been involved in significant enforcement actions involving investment advisers and companies, insider trading, market manipulation, public company accounting and financial disclosure violations. Currently, he is responsible for supervising investigations of large-scale market conduct. Prior to joining the SEC, Cohen was in private practice and served as a law clerk to the Honorable Alexander Williams, Jr., United States District Court for the District of Maryland. He received his J.D. from New York University School of Law, where he served on the Law Review, and received a B.S. from Cornell University.

Golden Networking's High Frequency Trading Leaders Forum 2013 will examine the speed trading industry from various angles, in an opened and unbiased environment highly conducive to networking. Topics to be discussed at High Frequency Trading Leaders Forum 2013 will include:

- Low Latency: How can Ultra-Low Latency be Achieved for High-Frequency Trading?
- Emerging Markets: How will Emerging Markets from Brazil to China Affect the Scope of High-frequency Trading?
- Robotic Markets: As High-frequency Trading Embraces Robotic Markets Worldwide, How Will Participants be Able to Find new Opportunities to Sustain Alpha Creation?
- Regulatory Impact: With High-frequency Trading in the Spotlight, how will New Regulations Change the Industry?
- The Future of HFT: How will High-frequency Trading Evolve in Ever-changing Technology and Regulatory Environments?

Tech2Trade Expo 2013, to be held in New York City, London, Chicago, Singapore and Frankfurt, is the world's most influential alternative investments forum for the hedge fund, high-frequency trading and derivatives communities. With dozens of practitioners, experts and regulators speaking in our programs, Tech2Trade Expo 2013 provides hundreds of investors, traders and portfolio managers with the key lessons, proven recipes and penetrating insights they are looking for to capture alpha in up and down markets.

High Frequency Trading Leaders Forum 2013 is produced by Golden Networking (www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to download our Information Package or contact Golden Networking directly by calling +1-414-FORUMS0 or sending an email to information@goldennetworking.net.

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