In light of the federal indictments against SAC Capital announced Thursday, U.S. Sen. Chuck Grassley said that he would want to see founder Steven A. Cohen testify before Congress.
"The answer is simply yes," he said. "I would."
The Iowa Republican also said that he was "very happy" with the targeting of insider trading on Wall Street.
SAC Capital Advisors is charged with wire fraud and four counts of securities fraud; prosecutors allege the crimes were carried out from 1999 through at least 2010.
(Read more: SAC Capital Advisors indicted by a federal grand jury)
On CNBC's "Fast Money," Grassley said that he would like to review the penalties attached to such alleged crimes.
"I think we have to deal with it in Congress," he said. "Should this be the cost of doing business? Because some of these big firms, regardless of talking of billions or hundreds of millions, it might not be enough if it's just the cost of doing business — to do wrongdoing and then pay for it."