OLD Media Moves

SEC launched probe to find sources of Reuters stories

August 1, 2014

Posted by Chris Roush

A U.S. Securities and Exchange Commission watchdog conducted an extensive, months-long investigation to find out who had leaked information that appeared in two Reuters stories published last autumn, but it was unable to identify the sources, reports Paritosh Bansal and Jason Lange of Reuters.

Bansal and Lange write, “The SEC’s Office of Inspector General (OIG) started the investigation after Reuters published information about the regulator’s decision, taken in a closed-door meeting on September 12, 2013, to settle its probe into JPMorgan Chase & Co’s massive London Whale trading loss.

“The investigation started after Reuters reported on Sept. 17, 2013 that the regulator had approved its portion of a $700 million civil settlement with JPMorgan in a split vote. The story also said that two of the five commissioners had recused themselves from the decision.

“The SEC made its decision public on Sept. 19, 2013. About a week later, Reuters reported further non-public details about why one of the commissioners, Michael Piwowar, had voted against the settlement.

“In its report, dated March 5, the watchdog said it interviewed as many as 53 SEC employees, including Chair Mary Jo White, SEC commissioners and other top officials, during the investigation.”

Read more here.


Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.