SEC Probes Ex-Wachovia CEO's Comments To CNBC

Law360, New York (January 26, 2009, 12:00 AM EST) -- The U.S. Securities and Exchange Commission is reportedly looking into comments the now-former CEO of Wachovia Corp. made on CNBC before negotiating a deal to sell the company.

The SEC's investigation into Robert K. Steel, also a former Treasury Department official, has been under way for several weeks, but it's unclear how advanced the investigation is, the Wall Street Journal reported Saturday, citing people familiar with the matter.

The agency is reportedly looking into whether comments Steel made on CNBC's “Mad Money” program Sept. 15 misled...
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