According to KnoxNews: Business, it appears former Senator Bill Frist is no longer being investigated for insider trading.

WASHINGTON - In the end, Bill Frist’s habit of frequent e-mails helped document the former Senate Republican leader’s account that he was not involved in insider trading in his 2005 sale of HCA Inc. stock.
The former Tennessee senator was able to show in copies of e-mails given to federal investigators that he began the process of selling his family’s HCA stock in April 2005 - well before HCA had disappointing second-quarter earnings and publicly reported that fact July 13, two people familiar with Frist’s records said Friday.

Frist disclosed in a written statement recently that he had received letters from the Securities and Exchange Commission and the U.S. Attorney’s Office in the Southern District of New York saying they had closed their investigations and were taking no action against him.

His recent written statement said: “I’ve always conducted myself according to the highest ethical standards in both my personal and public life, and my family and I are pleased that this matter has been resolved.”

If this is the end of the case I will be pleased for Mr. Frist. While he served as Majority Leader there were times I felt he could have been more forceful in seeing legislation through to completion but I never questioned the decency of the man. He was always respectful of those with whom he disagreed and conducted himself with dignity in a sometimes not so dignified environment.

HT:Powerline