Heh heh.
WASHINGTON - The Securities and Exchange Commission and federal prosecutors are investigating Senate Majority Leader Bill Frist's sale of stock in HCA Inc., the hospital operating company founded by his family.
In a statement released Friday, the Nashville-based company said federal prosecutors for the Southern District of New York issued a subpoena for documents HCA believes are related to the sale of its stock by the senator.
Frist's office confirmed the SEC is looking into the sale.
The SEC also contacted HCA on Friday to informally request copies of the subpoenaed documents, HCA spokesman Jeff Prescott said. "We of course will comply with that request," he said.
Frist traded using only public information, and only to eliminate the appearance of a conflict of interest, Frist spokesman Bob Stevenson said in an e-mail Friday.
"Not surprisingly, the Securities and Exchange Commission contacted Senator Frist's office after the story appeared in the press about the sale of his Hospital Corporation of America stock," Stevenson said. "The majority leader will provide the SEC any information that it needs with respect to this matter."
Frist spokeswoman Amy Call again declined to comment on the timing of the sale, saying, "His only objective in selling the stock was to eliminate the appearance of a conflict of interest."
Excellent.