From the Wall St Journal: Securities regulators have sent subpoenas to hedge funds, specialized trading shops and other firms as they probe possible insider trading before the U.S. government's long-term credit rating was cut last month, people familiar with the matter said.
Securities and Exchange Commission officials demanded more information about specific trades made shortly before Standard & Poor's Corp. downgraded the U.S. to double-A-plus from triple-A on Aug. 5, these people said. SEC officials are zeroing in on firms that bet the stock market would tumble.
Those trades could have reaped huge profits when the Dow Jones Industrial Average sank 5.5% on Aug. 8, ...
Read more at http://online.wsj.com/article/SB10001424053111904106704576581133063805062.html?mod=WSJ_hp_LEFTTopStories
No comments:
Post a Comment