u.s. senator elizabeth warren firebrand strong financial regulation ask thursday securities regulators approve steve cohen new firm investment adviser bar billionaire manage people money 2018. letter u.s. securities exchange commission massachusetts democrat say regulator decision approve firm stamford harbor capital l.p. make mockery sec core mission protect investors commission permit recidivist hedge fund manager well-known former company willingness evade ignore federal law profit potentially exploit investors write call late example sec action fail appropriately punish guilty party deter future wrongdoing protect investors 2012 cohen implicate insider trade scandal unit sac capital advisors hedge fund found sec january reach settlement cohen prohibit serve supervisory role broke dealer investment adviser 2018 address charge relate subsidiary law enforcement agency charge steven cohen sec impose important restrictions include supervisory bar plus additional oversight requirements settlement even strong typical remedy say andrew ceresney director sec enforcement division mark herr spokesman point 72 asset management cohen family office manage assets say condition settlement clear go manage one dollar outside money prior jan. 2018 say early month sec grant registration new stamford harbor entity cohen own time stamford harbor spokesman say cohen supervise activities anyone act behalf thus allow abide agreement firm initially focus investments private company illiquid accord file could also seek accept outside capital future warren say firm shell management structure sec ensure future settlement agreements easily undermine ask complete list individuals firm like mr. cohen bar manage fund bar activities sec yet presently indirectly involve activities sec-registered entities sen. warren demand answer u.s. regulators cohen firm