Home Wealth  Money Stifel Reportedly In CDO Crosshairs

Stifel Reportedly In CDO Crosshairs

Posted: Jun. 29th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Stifel Financial is reportedly the latest target in a regulatory probe into sales of collateralized debt obligations.

The Wall Street Journal reports that the Securities and Exchange Commission has broadened its probe of mortgage bonds sold by the company to include whether the securities were suitable for five Wisconsin school districts.

The Journal reports the districts suffered steep losses on the products, and the SEC is trying to determine if Stifel should even have sold the schools the three different CDOs. Trusts set up by the schools invested a total of about $200 million into the products.

The Journal noted that, amid a broad investigation, this is the SECs first foray into whether such products were suitable for investors.

Nearly every major Wall Street firm has been asked for information in the SECs probe, and most recently the credit rating agencies, such as McGraw-Hill's Standard & Poors and Moodys , were brought into the investigation.

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Write a Story/Review about this topic

Post a Comment

 
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
Bird? Plane? No, It's A Flying Car: AeroMobil is the Plane You Can Drive to Work
Support Breast Cancer Awareness With This Special Pink Hans J. Wegner Wishbone Chair
For the Horror Inclined: 10 Halloween-Inspired Pieces for a Hauntingly Decorated Home
Enhancing the Sense of Place: Sharon Woods of Santa Fe's Woods Design Builders Talks of a Home's Soul
Christopher McKenney's Horror-Themed Photos Will Get You in the Halloween Spirit
Ghosts, Intruders, Clogged Pipes, Oh My!: Seek Thermal Helps You Find Them All
Caution: This Ice Bucket May Result in Excessive Wine Consumption
World's 50 Best Bars 2014 Announced: See Which Bars Cracked the Top 10
Tesla Officially Announces Improvement on Model S Sedan With New Dual Motor D
Chase Down the McLaren 650S GT3 in New Teaser Clip
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE