Marc Powers Tells FundFire that Former Cohen Managers Likely to Face Additional Scrutiny

News / July 6, 2015

Partner Marc Powers is quoted in an article published July 2, 2015, on The article, headlined, “SAC Vets’ New Funds Confront Old Brands ‘Black Marks,’ ” discusses the challenges faced by portfolio managers who once worked at S.A.C. Capital Advisors. That hedge fund was headed by Steve Cohen, who pleaded guilty to a securities fraud charge and agreed to settle insider trading charges last year with federal authorities. Powers told FundFire that, “The SEC might have a little more scrutiny in its exam program on a manager who worked at SAC, but it’s no different than the due diligence investors would do on a manager who came from a place where there are a few prior regulatory run-ins or litigation. It’s natural that the SEC would have a little more scrutiny on people who came from there.” Powers is the national leader of BakerHostetler’s Hedge Fund Industry and Securities Litigation practices.

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