SEC Investigates Countrywide CEO: Report

Law360, New York (October 18, 2007, 12:00 AM EDT) -- The chief executive officer of mortgage lender Countrywide Financial Corp. has reportedly become the subject of a U.S. Securities and Exchange Commission investigation, which has launched a probe into the executive's stock sales.

Regulators will take a closer look at sales made by Countrywide CEO Angelo Mozilo, according to an article published by the Wall Street Journal on Thursday.

New York Sen. Charles Schumer (D-N.Y.) issued a statement urging the SEC to expand its inquiry to include not only Mozilo, but also Countrywide itself.

The agency...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.