Senator urges probe of SAC hedge fund
WASHINGTON, May 7 (UPI) -- A grownup U.S. senator has asked federal regulators to investigate doable insider trading at SAC Capital Advisors, a high-profile hedge fund.
Sen. Charles Grassley, R-Iowa, said in a past letter to the Financial Industry Regulatory Authority that digit past SAC money managers had been live with insider trading, which raises suspicions most the firm.
"While SAC Capital itself has not been charged, these allegations raise earnest questions most the joint society at SAC Capital and shot investor confidence in a clean and counterpoised activity field," wrote Grassely, the ranking Republican on the senate Judiciary Committee.
The Wall Street Journal said SAC was digit of the nation's most striking hedge funds with $12 billion in assets.
The production said Saturday there was no immediate comment on the Apr 26 letter from either SAC or government regulators. An SAC spokesman previously said it fired the digit money managers over their action and was cooperating with the enquiry into their actions.
Source
0 comments:
Post a Comment