The SEC fined Stephan Cohen’s company, SAC, Inc, $616 Million and then closed the company after the corporation was criminally convicted of insider trading. Stephan Cohen paid a $1.8 Billion civil fine to the SEC but was never indicted for any criminal charges and wasn’t barred barred from continuing work in the investment industry. Was this punishment appropriate and sufficient in light of Cohen’s wealth? Why or why not? (Note: Cohen subsequently agreed to a two year suspension of his license in 2016 to settle pending litigation.)

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