Senators Criticize SEC Handling Of Whistleblower

Law360, New York (February 1, 2007, 12:00 AM EST) -- Renewing their criticism of the U.S. Securities and Exchange Commission, two senators told the U.S. Senate Wednesday that a review has found that political considerations played into how the agency handled an insider-trading investigation of Pequot Capital Management.

Sens. Charles Grassley, R-Iowa, and Arlen Specter, R-Pa., said in speeches on the floor of the Senate that the SEC should reopen its probe into the hedge fund.

''The SEC should have taken Mr. Aguirre's allegations seriously,'' Grassley said, according to the Associated Press. ''Instead, it circled the...
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