Back in November 2013, as part of its historic billion dollar guilty plea to multiple criminal charges of securities fraud and wire fraud, Steve Cohen's SAC Capital also agreed that it would no longer accept outside investor funds and would shut down operations as an investment adviser. With SAC Capital shut down, Cohen converted his investment operations to Point72 Asset Management, L.P., "a family office managing the assets of its founder, Steven A. Cohen, and eligible employees."

 

Yesterday, in the latest in a series of ethics and compliance-related moves by Point72, the firm announced that it has hired Kevin O’Connor as its new general counsel. O'Connor previously served as Associate Attorney General at the DOJ, as the U.S. Attorney for Connecticut, and also as an attorney in the SEC's Division of Enforcement. The WSJ reports that O'Connor is expected to begin working at Point72 in June, when he will take over for Vincent Tortorella, Point72's acting general counsel. Tortorella will remain at Point72 as chief compliance and surveillance officer. O'Connor joins Point72 from United Technologies Corp., where he has served as vice president of global compliance since 2012.

 

Earlier this year, Point72 launched a new website that emphasized the firm's focus of ethics. Point72's stated mission is

To be the industry’s premier asset management firm through delivering superior risk-adjusted returns, adhering to the highest ethical standards and offering the greatest opportunities to the industry’s brightest talent.

Cohen is also quoted on the website as saying that he wants Point72 to be a "great firm with a strong sense of community that always acts with integrity and professionalism and sets the standard for ethical behavior."

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