SEC Closes Bear Stearns Muni Bond Inquiry

Law360, New York (July 11, 2007, 12:00 AM EDT) -- Investment firm Bear Stearns revealed Tuesday that the U.S. Securities and Exchange Commission has shuttered an investigation into the company's municipal bond offering practices and will not take any action against the company.

In its quarterly filing with the SEC, Bear Stearns said the regulator sent a letter to the company on June 4, 2007, confirming that the investigation was complete. The investigation was carried out by the agency's Chicago office.

“The SEC staff does not intend to recommend any enforcement action,” Bear Stearns said in...
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