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
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
Warning: Don't Look at This $13.8M Bahamian Estate Unless You're Ready to Pack Up and Move In
Don't Die Before Checking Out These 5 Epic European Supercar Rental Experiences
We Will Be Impressed If You Don't Fall Off This Totally Cool Gyro-Stabilized Unicycle
The Bespoke W1 Suitcase Takes It Back to Travel's Golden Days
Air France Debuts New Star Chef Guy Martin Menu For La Première Fliers
Introducing the Impossible to Hack, Uber Strong, Super Sexy Turing Phone
So Just How Much Does it Cost to Own a Super Yacht?
Ditch the Cart and Surf the Putting Green on Golfboard
Join the Ranks of Harrison Ford and Liz Taylor By Chartering M/Y Highlander
A High-Flying Luxury Hotel in the Sky? Four Seasons Private Jet Opens its Doors
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE