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SEC probes banks and companies in loan securities dealings: WSJ
[March 25, 2014]
(Reuters) — The U.S. Securities and Exchange Commission
has launched an investigation into the increasing number
of complex bond deals on Wall Street that may create new
opportunities for fraud, the Wall Street Journal
reported on Monday. Investigators with the SEC are examining if banks and companies are using the bond deals to hide risks illegally, the newspaper reported, citing sources close to the matter. |
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The securities are packages of corporate loans
and debts that are assembled and sold by Wall Street Banks to
investors. They have gained in popularity after the financial
crisis as investors chase riskier investment products. (WSJ
story: http://link.reuters.com/vuj87v) The SEC is also investigating whether a number of banks
including Barclays , Citigroup , Deutsche Bank AG, Goldman Sachs
Group, Morgan Stanley, Royal Bank of Scotland and UBS AG have
been cheating their clients by mispricing certain bond deals. The SEC was not immediately available for comment outside of
normal business hours. (Reporting by Narottam Medhora in Bangalore; editing by Lisa Shumaker) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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