U.S. judge rules for SEC in fight with House over insider trading probe

Reuters News
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Posted: Nov 16, 2015 10:12 AM

NEW YORK (Reuters) - A U.S. House of Representatives panel and a former staffer must comply with subpoenas issued by the U.S. Securities and Exchange Commission as part of an insider trading probe, a federal judge has ruled.

U.S. District Paul Gardephe in Manhattan in a decision made public Monday said the House Ways and Means Committee must produce some documents to the SEC, and Brian Sutter, a former staff director for its healthcare subcommittee, can be deposed.

The decision came 16 months after the SEC first went to court over their refusal to provide information as part of a probe into whether Sutter leaked material nonpublic information about Medicare reimbursement rates to a lobbyist.

(Reporting by Nate Raymond in New York; Editing by Chizu Nomiyama)