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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: nextrade! who wrote (126721)11/6/2001 8:21:43 AM
From: nextrade!  Read Replies (1) of 436258
 
11/06 08:03
Treasury Legal Counsel Refers Bond Probe to SEC (Update1)
By Simon Kennedy

quote.bloomberg.com

Washington, Nov. 6 (Bloomberg) -- U.S. Treasury General Counsel David Aufhauser is formally requesting the Securities and Exchange Commission investigate suspicious trading in the 30-year bond last week.

Aufhauser's office has been looking into a jump in the price of the 30-year bond Wednesday morning, shortly before the Treasury announced it would no longer issue the security.

``We're referred the matter to the SEC,'' he said in an interview, adding that he would continue his own inquiries.

The SEC has the authority to determine whether insider- trading laws have been violated.

An investment consultant, Pete Davis, who attended a press briefing on the pending announcement, has admitted telling clients about the Treasury decision before the news was released.

In addition, the Treasury press office posted the decision on its Web site 10 minutes before the news was to be officially released at 10 a.m., Washington time.

Aufhauser said his investigation was not just focused on Davis' involvement. The Treasury Internet leak is also ``material'' to the case, he said.

Jeffrey Rush, the Treasury's inspector general who joined the probe yesterday, declined to comment on whether any Treasury employee is a focus of the inquiry. ``I don't want to describe the scope of something while it's pending,'' he said.
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