(Reuters) U.S. securities regulators said on Monday they would not oppose making a rare settlement refund of $21.5 million to hedge fund Level Global Investors LP after a federal appeals court’s ruling that made pursuing insider trading cases tougher.The U.S. Securities and Exchange Commission’s position was laid out in a letter filed in federal court in Manhattan, after the defunct Connecticut hedge fund asked a federal judge to vacate the 2013 settlement and order the SEC to repay it.
Hedge Fund Nears Rare Insider Trading Settlement Refund With U.S. SEC
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