NYT – The Securities and Exchange Commission is seeking more time to respond to a Congressional request regarding how the agency handled referrals about suspicious trading activity at the hedge fund SAC Capital Advisors.
In a letter last month, Senator Charles E. Grassley, Republican of Iowa, asked the agency to describe its handling of about 20 instances of trading at the hedge fund that were referred to it. The trades were handed to the commission by the Financial Industry Regulatory Agency, Wall Street’s self-regulatory body, over the last decade.
