Calif. Seeks to Extend Reforms to More Banks
California Treasurer Phil Angelides today is expected to announce new requirements for investment banks that want to do business with the state.
Sources said Angelides wants to extend to more than 100 investment banks the same reforms that 10 major firms agreed to undertake last week as part of a landmark settlement of alleged misconduct during the late- 1990s bull market.
New York Atty. Gen. Eliot Spitzer, who led state regulators’ probe of brokerages, is expected to participate in a news conference with Angelides.
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