David K. Donovan, Jr., one of Fidelity Investment's star traders who left the company last week, said on Thursday that regulators had begun investigating whether trading in his mother's account involved preferential treatment, according to the Boston Globe.

Donovan said his mother's single trade "had nothing to do with me." In particular, investigators are looking at the trading account of Concetta Donovan in shares of Covad Communications Group, a provider of high-speed telecommunications services.

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