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Charles Grassley SAC Capital

Posted: 22 May 2011 08:35 PM PDT

Charles Grassley SAC Capital

Senator Charles Grassley Investigating SAC Capital Trades

US Senator Charles Grassley has taken a special interest in trades made by SAC Capital. The senator is focusing on about twenty suspicious trades made by Steve Cohen's hedge fund. Senator Grassley has requested information on suspicious trades made by SAC traders and executives dating all the way back to 2000.
Charles Grassley, a Republican from Iowa and the senior member of the Senate Judiciary Committee, previously had pressed the Financial Industry Regulatory Authority for information on "the potential scope of suspicious trading activity at SAC Capital."

In a letter sent on April 26, Mr Grassley asked Richard Ketchum, Finra chairman, for details of all referrals related to SAC Capital sent to the brokerage regulator since January of 2000.

Finra sent Mr Grassley information on about 20 suspicious instances of trading by SAC and SAC executives met with Mr Grassley's staff earlier this month.

"We welcomed the opportunity to meet with the staff to educate them about the firm and our compliance efforts, and had an entirely appropriate, professional and cordial meeting. We will continue to cooperate in any way we can," a spokesman for SAC said.   Source

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