Hedge Funds Politics & Regulation

Balyasny confirms government subpoena

by Josh Friedlander

The firm confirmed to clients today that it has received a broad request for information.

Balyasny Asset Management wrote to its investors today to indicate that the firm had been subpoenaed on Monday. Citing sources, The Wall Street Journal had reported Monday that the firm was one of several targeted by the government's widespread inquiry into insider trading.

"Late Monday afternoon we received a faxed subpoena from the government requesting a broad set of general information for the last few years," said the Balyasny letter. "Our internal compliance processes have always been top tier, and our personal trading policies strict and well communicated. Therefore, while we take these recent events very seriously,