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Insider trading "was substantial, pervasive and on a scale without known precedent in the hedge fund industry".
Federal prosecutors said SAC's misconduct "resulted in insider trading that was substantial, pervasive and on a scale without known precedent in the hedge fund industry".
One possibility is that he hasn't done anything wrong, and didn't know anything about the insider dealing that was "substantial, pervasive and on a scale without known precedent in the hedge fund industry".
The U.S. Attorney charged eight of Cohen's former employees with insider trading, and said that "institutional practices" at S.A.C. had led to securities violations that were "substantial, pervasive and on a scale without precedent in the hedge fund industry".
Such substantial, pervasive, anti-competitive and ultimately illegal conduct requires strong conduct limitations and restrictions and affirmative requirements, in order to right the wrongs, address the resultant damaging market effects, and redress the consumer harm.
SAC Capital was fined $1.8bn last year after prosecutors accused the company of fostering a culture of insider trading "that was substantial, pervasive, and on a scale without known precedent".
Similar(49)
"It is, instead, the predictable product of substantial and pervasive institutional failure.
The two authors write: a substantial and pervasive conservative bias in politicians' estimates of district opinion.
It found "substantial and pervasive violations" — ignored for years — of the government's own minimal monitoring requirements.
The agency's finding noted that scientific studies showed "a substantial and pervasive decline throughout almost the entire range of the species" in the West.
The finding, which said that a listing was "warranted but precluded," noted that scientific studies show "a substantial and pervasive decline throughout almost the entire range of the species".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com