The Securities and Exchange Commission has reportedly agreed to reveal to a Senate committee internal memos regarding an investigation into alleged insider trading at Pequot Capital, amid concerns political influence affected a decision not to interview John Mack, chief executive of Morgan Stanley.

Dow Jones Newswires reports that a spokesman for senator Chuck Grassley, chairman of the Senate Finance Committee, said the senator had received word from SEC chairman Christopher Cox that the SEC intended to cooperate with the committee's request for documents and interviews.