SEC, N.Y. to Expand Mutual Fund Probes
From Bloomberg News
The Securities and Exchange Commission and New York state authorities are investigating banks whose loans financed improper mutual fund trading, SEC enforcement chief Stephen Cutler said.
Bank of America Corp. and Canadian Imperial Bank of Commerce are among those drawing scrutiny in the probe of the $7.2-trillion mutual fund industry, a person familiar with the fund investigation said.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
