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Insider Trading Investigations: Initial Response to Subpoenas and Search Warrants

In the last week, news of search warrants and subpoenas for records relating to suspected insider trading has dominated the headlines. According to news reports, including in the Wall Street Journal, the SEC and U.S. Attorney’s Office for the Southern District of New York, working with the FBI, have been conducting insider trading investigations into securities trading by hedge funds, mutual funds and other financial institutions, and more investigations are underway.