Billionaire investor Steven Cohen has seen his return to managing investors' money in the UK blocked by the country's financial regulator — potentially scuppering one of London's biggest hedge fund launches of recent years. One of the most eagerly anticipated returns to London's hedge fund sector has stalled with the UK Financial Conduct Authority (FCA) preventing billionaire Steven Cohen from opening his latest venture. The FCA has given no public reason for blocking Point72 Asset Management. Cohen was banned from the sector in 2014 after an insider trading scandal involving his former business SAC Capital. Cohen, who is worth $US1 billion, said he had been told by regulators that they were concerned about a "potential conflict of interest" between Cohen's role as chairman and chief executive officer at Point72,
One of the most eagerly anticipated returns to London's hedge fund sector has stalled with the UK Financial Conduct Authority (FCA) preventing billionaire Steven Cohen from opening his latest venture. The FCA has given no public reason for blocking Point72 Asset Management. Cohen was banned from the sector in 2014 after an insider trading scandal involving his former business SAC Capital. Cohen, who is worth $US1 billion, said he had been told by regulators that they were concerned about a "potential conflict of interest" between Cohen's role as chairman and chief executive officer at Point72,