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SEC’s Hunt for Crisis-Era Wrongdoing Loses Steam

WSJ – Securities and Exchange Commission enforcement officials have decided not to recommend filing civil charges against hedge-fund firm Magnetar Capital LLC, which teamed up with Wall Street firms to create mortgage securities that suffered billions of dollars in losses during the financial crisis, according to people familiar with the situation.

The decision is a sign the SEC’s investigations into whether companies or individuals broke the law with their conduct ahead of the crisis are running out of gas. Despite last week’s courtroom victory in a civil trial against former Goldman Sachs Group Inc. trader Fabrice Tourre over his role in a deal called Abacus 2007-AC1, securities regulators are quietly winding down some of their highest-profile investigations related to the crisis, these people said.

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