U.S. securities regulators said yesterday that they would not oppose making a rare settlement refund of $21.5 million to hedge fund Level Global Investors LP after a federal appeals court's ruling that made pursuing insider trading cases tougher, Reuters reported yesterday. The U.S. Securities and Exchange Commission's position was laid out in a letter filed in federal court in Manhattan, after the defunct Connecticut hedge fund asked a federal judge to vacate the 2013 settlement and order the SEC to repay it. Level Global's request requires approval by U.S. District Judge Shira Scheindlin. Neither the SEC nor a lawyer for Level Global responded to requests for comment.
