The Securities and Exchange Commission is reportedly conducting three investigations into whether leaks from the federal agency that runs the massive Medicare program led to stock moves on Wall Street in advance of regulatory actions by that agency.
The SEC has questioned almost a dozen officials with the Centers for Medicare and Medicaid Services as part of the insider-trading probes, one of which also involves the Federal Bureau of Investigation, The Wall Street Journal reported in a front-page story Wednesday.
The newspaper reported that subpoenas have been served on stocks traders, government officials and research firms that specialize in Medicare policy.
Medicare, federal government's health-insurance for the elderly and disabled, is responsible for a significant share of overall U.S. health spending, with a $600 billion budget. CMS, which also operates the Obamacare program, is a division of the U.S. Health and Human Services Department.