SEC Issues Flurry of Subpoenas Related to Hedge Funds, Bankers

SECSeal230The SEC has escalated its efforts against insider trading by hedge funds and investment bankers, reportedly sending at least three dozen subpoenas to hedge funds and brokerages within the past month. The WSJ reports that some of the inquiries appear to be focused on potential insider trading before health-care and retail mergers of the past three years.

Other subpoenas reportedly focus on investment bankers including Goldman Sachs Group in the health-care deals. The WSJ reported that it not clear whether the subpoenas are related to the ongoing insider trading case involving Galleon Group.

Read the WSJ article