Hedge Funds

Senator demands SEC cooperation in Pequot inquiry

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Senate Finance Committee Chairman Charles Grassley (R-Iowa) on Monday requested that the U.S. Securities and Exchange Commission "immediately" turn over documents related to the agency's handling of an inquiry into the $7.1 billion Pequot Capital Management.

In a letter to SEC Chairman Christopher Cox, Sen. Grassley wrote that he has "serious concerns about indications that the SEC plans to impose unnecessary delays on Congress' ability to get to the bottom of this important matter."

The matter in question is the SEC's inquiry into possible insider trading at Pequot, the Westport, Conn., hedge fund firm founded by Art Samberg. That