The U.S. House Ways and Means Committee and a top staff member say the panel and its employees are “absolutely immune” from having to comply with subpoenas from a federal regulator in an insider-trading probe.
The committee yesterday responded to U.S. District Court
Judge Paul Gardephe’s order to explain why it hadn’t complied with the
U.S. Securities and Exchange Commission’s requests for documents, phone
records and testimony of aide Brian Sutter for more than a year.
Gardephe gave the House until yesterday to answer.
Kircher, the top lawyer for the House, said the SEC’s request should be
dismissed because the information it seeks concerns legislative
activities protected by the Constitution, which can’t be reviewed by
federal judges. I