SEC probes reach 671 in fiscal year
times wire reports
The Securities and Exchange Commission said it brought 671 enforcement cases in the fiscal year that ended Sept. 30, with the number of market manipulation cases up more than 45% over the previous year.
The SEC also said it has more than 50 pending investigations related to the subprime mortgage market.
The agency, working in conjunction with the FBI and federal prosecutors, has been investigating whether mortgage lenders and Wall Street firms participated in fraud.
The 671 cases initiated in the latest fiscal year represent the second-highest number of enforcement actions in the SEC’s history, the agency said. The number of insider trading cases set a new record.
