Expansion of the SEC investigation of market manipulation and FBI probe into financial companies

Expansion of the SEC investigation of market manipulation and FBI probe into financial companies
Download Expansion of the SEC investigation of market manipulation and FBI probe into financial companies

On September 19, 2008, the SEC announced a sweeping expansion of its ongoing investigation into possible market manipulation in the securities of certain financial institutions. The SEC stated that the expansion will include obtaining statements under oath from market participants.

According to the SEC, hedge fund managers, broker-dealers, and institutional investors with significant trading activity in financial issuers or positions in credit default swaps, will be required, under oath, to disclose these positions to the SEC and disclose other information.