Regulators Eye Bear Stearns Muni Bond Practices

Law360, New York (February 14, 2006, 12:00 AM EST) -- Brokerage Bear Stearns can’t seem to stay out of regulatory hot water. After paying $1.5 million to the New York Stock Exchange last week for trading violations, the firm’s municipal bond offering practices have become the subject of a newly launched joint investigation by the U.S. Attorney’s Office in Illinois and the Securities and Exchange Commission.

Bear Stearns has disclosed that it has received subpoenas for documents relating to its underwriting and public fund asset management businesses. The requests for information came not only from the...
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