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Trading probe SAC client named - WSJ
NEW YORK |
NEW YORK Dec 7 (Reuters) - A key client in a Federal regulators' probe into securities trading practices has been identified as Michael Steinberg, a technology-fund manager at SAC Capital Advisors LP unit, Sigma Capital Management, the Wall Street Journal reported on Tuesday, citing a person familiar with the matter.
Steinberg is said to be the client that independent analyst John Kinnucan refused Federal investigators' request in October to record conversations of, the Journal said.
The Journal said while Steinberg has not been accused of any wrongdoing, it marks the first time a current SAC employee has been named in connection with the insider-trading inquiry.
Reuters could not immediately reach Steinberg or Sigma Capital for comments. (Reporting by Yinka Adegoke; Editing by Muralikumar Anantharaman)
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