Senate Report Stings SEC Handling Of Pequot Case

Law360, New York (August 6, 2007, 12:00 AM EDT) -- A Senate report criticizes the U.S. Securities and Exchange Commission's handling of the insider trading investigation of hedge fund Pequot Capital Management, saying that the probe gave an appearance of “undue deference” to the head of a Wall Street bank and that the regulator only examined a small part of the suspicious trading at the hedge fund.

The 106-page report, which was issued Friday by the Senate Finance and Judiciary Committees, echoed the findings of an interim report released earlier this year by Sens. Charles Grassley...
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