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Grassley Wants Insider-Trading Info From NASD

Law360 (December 1, 2006, 12:00 AM EST) -- Sen. Chuck Grassley has a few questions for the National Association of Securities Dealers. The chairman of the Senate Finance Committee has asked the self-regulatory organization to explain how it investigates suspected insider-trading by its member firms.

Grassley’s inquiry is part of the finance committee’s look into the U.S. Security and Exchange Commission’s handling of an investigation into possible insider-trading at hedge fund Pequot Capital Management.

“This oversight effort is about making sure the watchdogs are getting the job done,” Grassley said in a statement. “It's...
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