SEC Probing First Chicago Statements: The Securities...
From Times Staff and Wire Reports
SEC Probing First Chicago Statements: The Securities and Exchange Commission has begun an inquiry into allegations that First Chicago Corp. leaked certain sensitive information to securities analysts in advance of a public announcement projecting lower first-quarter earnings. Some analysts said the probe has the potential to change the landscape of their profession. The SEC declined to comment on the inquiry. The analysts worry that allegations that First Chicago improperly disclosed an impending increase in non-performing loans could freeze the information flow that is their lifeblood. They said what they learned from First Chicago was the routine information that their profession relies on.
