“(Reuters) – A powerful Republican lawmaker is investigating possible insider trading at SAC Capital Advisors LLP, highlighting increased public scrutiny of potential wrongdoing by hedge funds.
The Financial Industry Regulatory Authority last week provided Senate Judiciary Committee head Charles Grassley with about 20 instances of suspicious trading at the hedge fund, a spokeswoman for the senator confirmed on Saturday.
Grassley had asked Finra in April for information on any such trading at Steven Cohen’s $13 billion hedge fund.”
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