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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.