Домой United States USA — mix SEC And DOJ Will Investigate Silicon Valley Bank’s Collapse, Report Says

SEC And DOJ Will Investigate Silicon Valley Bank’s Collapse, Report Says

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The SEC and DOJ investigations will not necessarily lead to charges or allegations of wrongdoing, the Wall Street Journal reported.
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The two federal agencies have launched separate investigations that are both in the preliminary phases, according to the Journal, which cited sources familiar with the probe, four days after the Santa Clara, California-based bank was closed by California’s financial regulator.

Those investigations will not necessarily lead to charges against the bank—whose collapse marked the biggest bank failure since the start of the Great Recession in 2008—sources told the Journal.

Financial regulators had taken over the bank after its stocks were halted Friday, while the Federal Deposit Insurance Company announced Sunday it would make its depositors whole, even those with more money deposited than the FDIC’s threshold of $250,000, which it is required to insure.

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