From CNN

WASHINGTON (AP) — Senate Majority Leader Bill Frist said Monday he had no insider information when he sold stock this summer in HCA Inc., the hospital company founded by his father and brother.

The Justice Department and Securities and Exchange Commission are looking into the sales.

Also Monday, the chairman of the SEC, former Rep. Christopher Cox, said that to avoid a potential conflict he would take no part in the agency’s investigation. (Related story)

Questions have been raised about whether Frist had special information before the sale because insiders in HCA also sold stock during the first half of the year — and the stock price dipped soon after Frist sold his stock.

“I had no information about HCA or its performance that was not publicly available when I directed the trustees to sell the stock,” Frist said, referring to the sale by administrators of his blind trusts. (Related story)

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