FT.com / Companies / Financial Services - Pequot referred to SEC 45 times in four years.
Stock exchange monitors referred Pequot Capital Management [a hedge fund - ed] to the Securities and Exchange Commission for possible securities violations, including insider trading, at least 45 times between 2005 and this year, the commission has revealed in a letter to the US Congress.
The US is notoriously the home of 'three times and you're out' justice for the poorest in the community - who can get life for shoplifting as a result.
But not if you're a hedge fund which has picked up 45 complaints in 4 years, apparently.
Why not?
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