• About
  • Advertise
  • Careers
  • Contact
Tuesday, June 6, 2023
  • Login
No Result
View All Result
American CEO Club
  • Home
  • The Big Idea
  • Entrepreneurs
  • Finance
  • Growth Strategies
  • Inspiration
  • Leadership
  • Marketing
    • Social Media
  • Technology
  • Starting a Business
  • Home
  • The Big Idea
  • Entrepreneurs
  • Finance
  • Growth Strategies
  • Inspiration
  • Leadership
  • Marketing
    • Social Media
  • Technology
  • Starting a Business
No Result
View All Result
American CEO Club
No Result
View All Result
Home Finance

SEC Allegedly Probes ‘Conduct’ Of Former First Republic Executives

May 8, 2023
in Finance
Reading Time: 1 min read
A A
Share on FacebookShare on Twitter


The Securities and Exchange Commission is allegedly investigating First Republic executives to determine whether they “improperly traded on insider information” prior to the bank’s failure and subsequent sale to JP Morgan Chase, two individuals familiar with the matter told Bloomberg.

The individuals chose not to be identified since the investigation has not been made public. No former or current individuals working at the bank have been accused of misconduct, and it remains unclear which executives are the focus of the probe.

“That the SEC is looking into First Republic is no surprise,” Richard Hong, a former SEC trial attorney told Bloomberg. “My expectation is that the SEC will be looking at a variety of issues regarding insider trading and disclosures.”

The news of the investigation came one day after U.S. Senator Elizabeth Warren accused First Republic executives of “incompetency” and “mismanagement” in a letter to First Republic Bank’s former CEO Michael J. Roffler.

Related: 8 Social Media Influencers Charged by SEC in $100 Million Stock Manipulation Scheme

“You owe your customers and the public an explanation for the decisions that resulted in the costly failure of your bank – the second largest bank failure in the nation’s history,” Warren wrote in the letter.

First Republic collapsed on May 1 and was acquired by JP Morgan Chase the same day for $10.6 billion.

As for the state of the alleged probe, an SEC spokesperson stated that the organization “does not comment on the existence or nonexistence of a possible investigation.”

Representatives for JP Morgan did not immediately respond to Entrepreneur’s request for comment.

Related: Breaking the Bank: America’s Multi-Trillion Dollar Banking Problem

Related Posts

Why Harnessing the Power of Content Leads to Business Success

Why Harnessing the Power of Content Leads to Business Success

by Staff
June 6, 2023
0

Opinions expressed by Entrepreneur contributors are their own. In today's fast-paced digital world, creating content is essential for businesses...

3 Education Stocks to Add to Your Watchlist

3 Education Stocks to Add to Your Watchlist

by Staff
June 6, 2023
0

Advances in technology and the growing popularity of online learning have boosted the education industry. Therefore, it could be...

A Leader’s Guide to Managing Anxiety

A Leader’s Guide to Managing Anxiety

by Staff
June 5, 2023
0

Opinions expressed by Entrepreneur contributors are their own. Anxiety is something many of us don't believe we have ever...

A Guide To the FTC’s New Subscription Provision

A Guide To the FTC’s New Subscription Provision

by Staff
June 5, 2023
0

Opinions expressed by Entrepreneur contributors are their own. The Federal Trade Commission (FTC) proposed a "click-to-cancel" provision to their...

3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff

3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff

by Staff
June 5, 2023
0

Automation is one way to cut through the noise: daily check-ins, circle-backs, status updates, etc. — and leave mental...

Sleep Better, Snore Less, and Stay Cool with This Tech-Packed Pillow, Now $49.99

Sleep Better, Snore Less, and Stay Cool with This Tech-Packed Pillow, Now $49.99

by Staff
June 4, 2023
0

Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you...

Next Post
How to Build a Business that Makes a Positive Impact

How to Build a Business that Makes a Positive Impact

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Why a Recession Can Be a Good Time for Expansion

Why a Recession Can Be a Good Time for Expansion

3 weeks ago
8 Avoidable Mistakes Leaders Make on LinkedIn Every Day

8 Avoidable Mistakes Leaders Make on LinkedIn Every Day

2 months ago

Popular News

    © 2022 American CEO Club

    No Result
    View All Result
    • Home
    • The Big Idea
    • Entrepreneurs
    • Finance
    • Growth Strategies
    • Inspiration
    • Leadership
    • Marketing
      • Social Media
    • Technology
    • Starting a Business

    © 2021 American CEO Club

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In