FT: Steve Cohen's hedge fund Point72 has been blocked by the UK regulator from taking British money.
Cohen was banned from managing money for two years after his former hedge fund, SAC Capital, pleaded guilty to insider trading charges in the US.

LONDON — Hedge fund billionaire Steve Cohen has reportedly hit a roadblock in the UK.

The Financial Times reported on Friday that Cohen has been blocked by the UK regulator from accepting outside investor money in Britain for his new hedge fund Point72. The FT said that one source claimed Cohen was deemed not to pass the "fit and proper" test by the UK's Financial Conduct Authority (FCA).See the rest of the story at Business InsiderNOW WATCH: A Nobel Prize-winning economist says 'non-competes' are keeping wages down for all workers
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DON'T MISS: We talked to Steve Cohen's right-hand man about Point72 Ventures' latest investment, tech on Wall Street, and cryptocurrency

NEXT UP: The president of Steve Cohen's hedge fund has resigned after a female employee accused him of gender discrimination

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