Warren Wants SEC to Review Icahn’s Role Advising Trump on Rules
- Senator says billionaire could gain unfair trading advantages
- President’s SEC nominee says insider trading is fact specific
Senator Elizabeth Warren speaks on Jan. 29, 2017, in Boston.
Photographer: Ryan McBride/AFP via Getty ImagesThis article is for subscribers only.
U.S. Senator Elizabeth Warren said the Securities and Exchange Commission should be vigilant in ensuring that billionaire investor Carl Icahn isn’t using his role as an adviser to the Trump administration to gain unfair trading advantages.
“I do not understand how we can have someone who continues to trade in a market and is influencing regulatory policy simultaneously,” the Massachusetts Democrat said Thursday at the Senate confirmation hearing for Jay Clayton, President Donald Trump’s nominee to lead the SEC. “I want to hear the chair of the SEC say he’s going to look into this and I hope put a stop to it.”