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House insider probe involves dozens of funds, firms

The probe concerns some of the largest hedge funds and asset-management advisers, the SEC said.

By Patricia Hurtado | Updated on July 18, 2014

July 18 (Bloomberg) — An insider-trading probe involving the House Ways and Means Committee and a top staff member also includes dozens of hedge funds, investment advisers and other firms, the U.S. Securities and Exchange Commission said in a court filing.

In arguing against the House’s motion to dismiss the case or send it to a court in Washington, the SEC told a Manhattan federal judge July 16 that the geographic scope of its investigation is “much wider” than described by lawyers for the House and involves a total of 44 entities.

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