As SAC Capital Advisors continues to face pressure over
federal insider trading investigations, the hedge fund wants to investors to
know that it can do better to stop problems from arising.
And to emphasize its point, SAC plans to bolster its
compliance practices, according to a letter to investors sent by its founder,
Steven A. Cohen.
Perhaps the most notable move is the firm’s institution of
clawbacks for the deferred compensation of employees facing criminal or civil
cases. Should an employee leave SAC during an investigation, his or her payouts
will be withheld. If the case leads to sanctions or other punishments, the
compensation will not be paid out….
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