House Financial Services Chair Faces Insider Trading Probe

Law360, New York (February 10, 2012, 2:31 PM EST) -- The Office of Congressional Ethics is investigating allegations that the chairman of the House Financial Services Committee traded on inside information he learned through his powerful position on Capitol Hill.

Rep. Spencer Bachus, R-Ala., denied on Friday that he ever traded on inside information and said he expected the congressional ethics office to confirm that. The Washington Post first reported the probe into the chairman's trading activity late Thursday.

"I welcome the opportunity to set the record straight," Bachus said in a statement. "I have fully...
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