WASHINGTON, Sept. 26 (Reuters) — The New York Stock Exchange’s regulatory unit said Tuesday that it expected to refer 140 potential insider trading cases to the Securities and Exchange Commission this year, up 26 percent from 2005.
“The last two years have seen a significant increase in the number and complexity of our insider trading referrals,” said Robert A. Marchman, executive vice president of NYSE Regulation, a unit of the NYSE Group.
Hedge funds are part of a growing number of insider trading cases, Mr. Marchman told the Senate Judiciary Committee. The panel’s chairman, Arlen Specter, Republican of Pennsylvania, said more regulation of hedge funds should be considered.
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