GASPARINO: Steve Cohen Is Telling Friends That He's Resigned To Running A Family Office Hedge Fund

This just in from Fox Business Network's senior correspondent Charlie Gasparino...

FBN NEWS: what a way to end a slow week on wall street: stevie cohen telling friends he's resigned to running a family office more at 330

— Charles Gasparino (@CGasparino) August 30, 2013

FBN NEWS: SAC Capital expects all outside $ to leave the fund by years end Steve Cohen is now "resigned" to running a "family office" FBN330

— Charles Gasparino (@CGasparino) August 30, 2013

Back in July, Cohen's $14 billion SAC Capital Advisors was hit with criminal charges of insider trading.

U.S. prosecutors charged SAC "with criminal responsibility for insider trading offenses committed by numerous employees and made possible by institutional practices that encouraged the widespread solicitation and use of illegal inside information," the indictment stated.

Two of SAC's former portfolio managers have insider trading trials coming up in November.

The SEC also civilly charged Cohen last month with failing to supervise the two portfolio managers.

Cohen, 57, launched SAC in 1992. The hedge fund employs about 900 people worldwide.