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SEC swears in new Democratic commissioner Kara Stein

Wochit 0:50 mins

The Securities and Exchange Commission swore in Kara Stein, a former U.S. Senate staffer, to serve as the agency's new Democratic commissioner. An administrative law judge approved a request to stay the U.S. Securities and Exchange Commission's action against SAC Capital Advisors founder Steven A. Cohen, according to an order filed on Thursday. Chief Administrative Law Judge Brenda P. Murray approved a request from federal prosecutors in New York to stay the SEC's administrative proceeding accusing Cohen of failing to supervise two one-time SAC employees until after criminal cases against the employees and the $14 billion hedge fund were resolved.

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