SEC Denies Request For Info On Bear Stearns Probe

Law360, New York (April 23, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has denied a congressional request to disclose why it dropped an investigation of Bear Stearns Cos. shortly before the investment bank imploded.

In an April 16 letter to Sen. Chuck Grassley (R-Iowa), the SEC said its policy was to conduct all inquiries on a confidential basis.

“The commission does not disclose the existence or non-existence of an investigation or information generated in any investigation unless it's made a matter of public record in proceedings brought before the commission or the...
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