SEC Auction Probe Raises Questions

Fine, Jacob
June 2004
Bond Buyer;6/25/2004, Vol. 348 Issue 31913, p1
Trade Publication
Reports that the United States Securities and Exchange Commission has been investigating broker-dealer's passing on information to other firms that could allow them to submit winning bids for auction-rate securities. Questions on whether a broker-dealer's bid on a deal it has underwritten could be unfairly influencing the market; Sending by the SEC of letters to broker-dealers, including J.P. Morgan Securities Inc. and Goldman Sachs & Co.


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