CFTC bars Steven Cohen from managing commodity hedge funds

August 16, 2016 10:41 AM EDT

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WASHINGTON (Reuters) - U.S. derivatives regulators said on Tuesday they have barred billionaire SAC Capital Advisors founder Steven A. Cohen from registering and managing commodity hedge funds.

The Commodity Futures Trading Commission's decision comes after the Securities and Exchange Commission separately took action against Cohen for allegedly failing to supervise employee Matthew Martoma, who is currently serving prison time for insider-trading.

(Reporting by Sarah N. Lynch; Editing by Chizu Nomiyama)

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