This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Insider Trading Probe Widens to SAC, Janus

Stocks in this article: JNS

Story updated to include SAC Capital information and Janus statement.

NEW YORK ( TheStreet) -- Several money management firms, including Steven Cohen's SAC Capital, were contacted by federal authorities Tuesday in a burgeoning probe of insider trading in the money management industry.

SAC Capital issued a letter to investors stating that it has received an "extraordinarily broad" government subpoena, according to MarketWatch.

A call to SAC's offices was not immediately returned.

Janus Capital Group (JNS) received a request for information, a company spokesperson confirmed.

"Janus Capital Group has received an inquiry calling for general information and intends to cooperate fully with that inquiry," a firm spokesperson said in an emailed statement. "Janus maintains rigorous compliance procedures and Janus has confidence in the integrity of its processes and its people."

Janus is a publicly traded money management firm with $160.8 billion in assets under management, according to the firm's Web site.

Boston-based Wellington Management Co. received a request for "documents" from federal investigators, according to a report by Bloomberg that cited a person familiar with the firm. The article states the request for documents was disclosed on "an internal conference call" but did not explain the firm's role in the probe.

A call to a Wellington spokesperson for comment was not returned.

According to the firm's Web site, Wellington is an investment adviser with $598 billion in assets under management. The firm is described as a private partnership that has more than 1,800 institutional clients.

The insider trading investigation was first reported by The Wall Street Journal Saturday. Several hedge fund offices were searched by the Federal Bureau of Investigation on Monday, including Level Global Investors, Diamondback Capital Management and Loch Capital Management.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,081.17 +50.96 0.28%
S&P 500 2,092.04 +10.16 0.49%
NASDAQ 4,813.4340 +39.9620 0.84%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs