WASHINGTON, June 27 Steven A. Cohen's hedge fund
SAC Capital and several affiliates reached a deal with U.S.
securities regulators on Friday to wind down their operations
and transition into a smaller, family-based business, according
to a regulatory filing.
The settlement with the Securities and Exchange Commission
was widely anticipated. It comes after SAC Capital and several
other units pleaded guilty to criminal charges of wire fraud and
securities fraud last year.
As part of the settlement with the SEC, Cohen's hedge fund
must de-register as an investment adviser before June 30. The
settlement also limits Cohen's involvement in managing the
(Reporting by Sarah N. Lynch; Editing by Susan Heavey)