After the second largest bank failure in history, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating First Republic Bank executives for allegedly engaging in insider trading. Two sources have claimed that the securities regulator is scrutinizing the bank’s executives for making trades using confidential information. Although the sources have not named any specific individuals under investigation, they assert that the SEC is looking into the matter. Furthermore, reports indicate that U.S. lawmakers sold shares of the troubled bank before it collapsed and was acquired by JPMorgan Chase.
Securities Watchdog Investigates First Republic Execs
On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) took control of First Republic Bank, a San Francisco-based financial institution, and placed it under the receivership of the Federal Deposit Insurance Corporation (FDIC). With $229 billion in assets, this was the second largest bank fa
We współpracy z: https://news.bitcoin.com/sec-probes-first-republic-bank-executives-for-insider-trading-lawmakers-dump-banks-shares-before-collapse/
