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Regulatory Sanctions

SEC v. Cooperman and Omega - A Win-Win Settlement

May 19, 2017

[Photo: Leoon Cooperman / Yeshiva University Office of Alumni Affairs]


by Howard Haykin


Last October, the SEC was playing ‘Hard Ball’ with Leon Cooperman on insider trading charges, demanding that he not only pay an $8 million fine, but accept a temporary suspension from the industry. Cooperman, 74, who has a decades-long reputation on Wall Street, vowed to fight to the bitter end.


Yesterday’s settlement – announced rather quietly by the SEC – closed this 8-month insider trading case with both sides claiming victory.


  • The SEC ‘got their man’, getting him to pay nearly $5 million in fines and disgorged profits and subjecting him to an independent compliance consultant for the next 5 years.
  • Leon Cooperman preserved his legacy by not admitting to any wrongdoing and by avoiding being barred or suspended. However, his Omega Advisors has taken a hit, with assets under management shrinking by more than half to $3.4 billion. 


Yes, Donald Trump and Congressional leaders, compromise and negotiation is possible, if not preferable.