From Reuters:
WASHINGTON, May 28 (Reuters) - The U.S. Securities and Exchange Commission will make public as early as June several enforcement cases involving subprime mortgage-related investigations, two sources familiar with the probes told Reuters on Wednesday.
The SEC last year formed an internal task force to investigate various areas of the subprime mortgage market including sales practices, accounting, the role of credit rating firms and securitization of packaged mortgages.
Many market participants, including credit rating agencies, Wall Street firms and mortgage brokers and lenders, have been criticized for fueling the U.S. housing market, perhaps without disclosing certain risks.
The SEC, which aims to maintain market confidence, is focused on proper disclosure and potential fraudulent activities to investors.
"I think we'll have a few subprime-related cases relatively soon ... within weeks," one source said.
The SEC last year formed an internal task force to investigate various areas of the subprime mortgage market including sales practices, accounting, the role of credit rating firms and securitization of packaged mortgages.
Many market participants, including credit rating agencies, Wall Street firms and mortgage brokers and lenders, have been criticized for fueling the U.S. housing market, perhaps without disclosing certain risks.
The SEC, which aims to maintain market confidence, is focused on proper disclosure and potential fraudulent activities to investors.
"I think we'll have a few subprime-related cases relatively soon ... within weeks," one source said.
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