“Nobody Gets a Pass”

Chairman Cox
Chairman Cox

So says Chairman Cox with respect to the SEC’s numerous investigations into auction-rate securities abuses.  In remarks yesterday, Chairman Cox told reporters that the investigations range far beyond the five banks that have already agreed to buy back billions of dollars of ARS from customers, and that there are “over a dozen pending investigations under way.” Cox said in his remarks to the press, according to Reuters.  As reported in CFO.com, he added that the probe extends to secondary dealers with nobody “getting a pass.”

Read the CFO.com article