What a crock! Why am I not surprised, congressmen feel they're above the law.
https://news.yahoo.com/house-panel-opposes-giving-sec-documents-insider-trading-210745911--sector.html
A U.S. House of Representatives panel said on Friday it should not have to comply with a federal regulator's demand for documents sought for an insider-trading probe involving the staff director of a subcommittee and a lobbyist...
..The committee's filing called the SEC subpoena "a remarkable fishing expedition for congressional records." It said the U.S. Constitution shields the panel and Sutter from being compelled to testify or produce documents..
.. In previous court filings, the SEC said Hayes spoke with Sutter the same day that the Centers for Medicare and Medicaid Services announced reimbursement rates for the Medicare Advantage program.
The regulator said Hayes then emailed the brokerage firm Height Securities, which shortly afterward sent its clients a "flash alert" suggesting the deal could help insurance companies such as Humana Inc and Health Net Inc .
Share prices of both companies jumped after the report was issued.
How in the hell do they figure the constitution protects them from insider trading?
https://news.yahoo.com/house-panel-opposes-giving-sec-documents-insider-trading-210745911--sector.html
A U.S. House of Representatives panel said on Friday it should not have to comply with a federal regulator's demand for documents sought for an insider-trading probe involving the staff director of a subcommittee and a lobbyist...
..The committee's filing called the SEC subpoena "a remarkable fishing expedition for congressional records." It said the U.S. Constitution shields the panel and Sutter from being compelled to testify or produce documents..
.. In previous court filings, the SEC said Hayes spoke with Sutter the same day that the Centers for Medicare and Medicaid Services announced reimbursement rates for the Medicare Advantage program.
The regulator said Hayes then emailed the brokerage firm Height Securities, which shortly afterward sent its clients a "flash alert" suggesting the deal could help insurance companies such as Humana Inc and Health Net Inc .
Share prices of both companies jumped after the report was issued.
How in the hell do they figure the constitution protects them from insider trading?
