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U.S. SEC, in Tactical Shift, Casts Suspicious Eye on Peers

Reuters – A shift in how the U.S. Securities and Exchange Commission investigates possible violations related to complex products could lead to brokerages being targeted because of problems at their competitors, an agency official said on Thursday [Sept. 28].

“If we have reason to believe that a company might be doing something improper, we will … look at its peers and see if they are engaging in similar misconduct,” said Reid Muoio, deputy chief of the SEC’s Structured and New Products Unit, in remarks to an industry conference in New York.

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