US Watchdog Widens Probe Into $150M SEC-BofA Deal

Law360, New York (June 2, 2010, 11:51 AM EDT) -- The U.S. Securities and Exchange Commission's inspector general told Congress on Tuesday that his office is expanding its probe into the agency's $150 million settlement with Bank of America Corp. amid concerns the fines would affect the bank's viability following its federal bailout.

In the inspector general's semi-annual report to Congress, David Kotz said his office was deepening its ongoing investigation into the events that led up to the SEC's recommendation to settle its enforcement action against the bank over allegations that it failed to disclose...
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