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SEC in limbo on SAC cash pot

Steven A. Cohen
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Steven A. Cohen

The Securities and Exchange Commission succeeded in fining Steve Cohen's SAC Capital Advisors more than $600 million as part of $1.8 billion in sanctions for insider trading at the hedge fund firm. Now it has to figure out what to do with the money.

Today, SEC officials are internally debating if the fine paid by SAC should go to the U.S. Treasury or be put in a so-called "fair fund" that could be paid out to those suing SAC for the illegal trading, according to the New York Post.

In addition to contemplating what to do with the SAC money, the agency is debating a larger issue over the harm of insider trading, the Post reported, citing sources familiar with the matter.

Read MoreSAC to pay $1.8 billion

A spokesman for SAC and Cohen declined to comment on the Post report.