German and French regulators are also looking into the trades.

But as a result of recent problems, foreign financial regulators are now looking at ways to strengthen their power.

Do some funds, when they know what regulators are looking for, then try other forms of market manipulation?

It may also reflect the fact that regulators do not even look at many filings.

Second, the regulators were looking for an infusion of capital from outside the banking industry.

For a decade, Congress and regulators looked the other way.

It's also likely to cause regulators to look at reserve levels, he said.

But a top antitrust official working on the case said this fell short of what regulators were looking for.

"The regulators will look in those places first," Bryn said.

Although the company says it did nothing wrong, regulators are looking into the payments, and Tenet has since changed that policy.