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Sarbanes-Oxley News & Developments
SEC Eyes Freddie Mac FraudSEC is examining evidence of fraud at mortgage finance company Freddie Mac.
> > SEC Chairman William Donaldson told the Senate Banking Committee the SEC is not the regulator for Freddie Mac but it is the job of the commission to investigate fraud.
Freddie Mac rattled markets when it replaced its top three executives in June over an accounting scandal and said the SEC started a formal investigation into its accounting practices.
The SEC chairman also said Freddie Mac has agreed to voluntary registration with the SEC. The SEC is helping the company conform with SEC registration rules on securities.
Source: CNNMoney
Published:2003-10-01
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