Sen. Seeks Review Of SEC Oversight Of SAC Capital

Law360, New York (May 24, 2011, 4:24 PM EDT) -- Sen. Charles Grassley, R-Iowa, on Tuesday asked the U.S. Securities and Exchange Commission to explain how it handled referrals related to trading activity at hedge fund industry titan SAC Capital Advisors LP.

Grassley, the ranking Republican on the Senate Judiciary Committee, sent SEC Chairwoman Mary Schapiro a letter asking the commission to report its handling of referrals of SAC Capital's trading activity from the Financial Industry Regulatory Authority from January 2000 through the present day. The senator is reviewing 20 stock trades by the $14 billion...
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