Khuzami: SEC Investigation Into BofA Has Widened

SECSeal230In testimony on Friday before the House Committee on Oversight and Government Reform, SEC Director of Enforcement Robert Khuzami stated that the agency has widened its investigation into Bank of America to examine “all aspects” of its January merger with Merrill Lynch.

Corporate Counsel reports that Khuzami confirmed that the SEC is looking at whether Merrill’s $15.3 billion in fourth quarter losses should have been disclosed, and is seeking additional discovery on that point in its ongoing litigation against BofA. The case is scheduled for trial in March.

Read the Corporate Counsel article