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U.S. Said to Probe Possible Insider-Trading Networks, WSJ Says

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Nov. 19 (Bloomberg) -- The U.S. Securities and Exchange Commission and other federal officials are nearing the end of a 3-year investigation into possible insider-trading networks including consultants, hedge-fund and mutual-fund traders and investment bankers, the Wall Street Journal reported, citing unidentified people familiar with the situation.

One of the focuses of the probe is whether Goldman Sachs Group Inc. bankers divulged information about health-care acquisitions and other transactions, the newspaper said.

First New York Securities LLC and Primary Global Research LLC are also among companies included in the investigation, according to the report.

Goldman Sachs declined to comment, the WSJ said. Primary Global Research Chief Operating Officer Phani Kumar Saripella declined to comment, the WSJ said.

An unidentified spokesman for First New York told the Journal his company is one of more than 36 that have been asked to provide information related to the investigation. The spokesman said First New York stands behind its traders, systems and policies and has cooperated with the probe.

Story link: {NSN LC5XX86S9728<GO>}

To contact the editor responsible for this story: Jeran Wittenstein at jwittenstei1@bloomberg.net

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