(Bloomberg) -- Steven A. Cohen’s firm will stop collecting employees’ best trading ideas for a central investment pool and rewarding them with a special bonus, a practice that the U.S. government said created wrong incentives at his former hedge fund SAC Capital Advisors LP.

Point72 Asset Management LP, the successor firm to SAC, will end the “tagging” of new investment ideas immediately and unwind existing trades by the end of the year, the firm said in an employee memo yesterday, a copy of which was obtained by Bloomberg News.

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