U.S. credit downgrade
SEC probes possible insider trading before S&P’s U.S. credit downgradePosted by RJ and Makay on Sep 20, 2011 |
>> Read More RJ & Makay Blog Posts
Securities regulators have issued subpoenas to hedge funds and other trading firms as it probes possible insider trading prior to the U.S. government’s long-term credit rating cut last month, the Wall Street Journal reported, citing people familiar with the matter. SEC officials have demanded more information concerning specific positions taken shortly before the August 5 Standard & Poor’s (S&P) downgrade of the U.S. sovereign debt rating to AA+ from AAA.
