07/04/2014 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Washington – A U.S. House panel has stated it does not have to comply with subpoenas linked to an insider trading probe. As reported by Bloomberg, the House Ways and Means Committee responded to an order by U.S. District Court Judge Paul Gardephe to provide an explanation for why it has yet to comply with requests by the U.S. Securities and Exchange Commission for information.
Kerry W. Kircher, the House’s top attorney, has stated that the federal regulator’s petition should be dismissed due to the requested information pertaining to constitutionally protected legislative activities.
Kircher is quoted as stating in a court filing, “What the SEC has done is embark on a remarkable fishing expedition for congressional records — core legislative records… The SEC invites the federal judiciary to enforce those administrative subpoenas as against the Legislative Branch of the federal government. This court should decline that invitation.”
This report is provided by Justice News Flash – Washington Legal News
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