Stamford Advocate – Securities and Exchange Commission attorneys are recommending that no action be taken against Wall Street executive John Mack or Pequot Capital Management Inc. in an insider-trading probe that led to allegations of political interference within the SEC.
Pequot Chairman Art Samberg sent a note to the hedge fund’s clients on Thursday disclosing the decision by SEC enforcement staff not to bring charges against the company or its employees.
The SEC staff also has made the same decision with regard to Mack, a person familiar with the investigation said Thursday. He spoke on condition of anonymity because Mack, the chief executive of investment house Morgan Stanley Inc., hasn’t made a public announcement of the decision.
The SEC declined comment.
