SEC Atty's Talks With Fund Chief Sank Probe: Watchdog

Law360, New York (November 30, 2011, 9:25 PM EST) -- A U.S. Securities and Exchange Commission attorney's inappropriate communications with a hedge fund manager torpedoed the agency's investigation into alleged insider trading and market manipulation by that manager, according to a report released Wednesday by the SEC's top watchdog.

In his semiannual report to Congress, SEC Inspector General H. David Kotz said his office began investigating in December 2010 allegations that an SEC headquarters supervisory attorney had discussed with the manager the legality of certain actions the manager had taken.

The Office of the Inspector General's...
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