SAC Capital Advisors’ Steven Cohen called federal insider trading rules “very vague” and asked for an explanation of the SEC’s basic rule about it in a newly revealed 2011 videotaped deposition via CNBC that includes verbal sparring with the lawyer questioning him.

Steve Cohen

Steve Cohen’s video deposition

Frontline said the deposition was taken as part of a 2011 civil suit brought by the Canadian insurer Fairfax Financial Holdings Ltd (TSE:FFH) (OTCMKTS:FRFHF).

Cohen objects to a question from attorney Michael Bowe over whether traders must “strictly adhere” to SAC’s compliance manual.

Cohen is asked a hypothetical question about trading on a stock based on knowledge a reporter was about to write a negative story.

In the fourth clip, he’s asked whether he has read the federal rules on trading with nonpublic information.