The Securities and Exchange Commission is investigating two executives at Bear Stearns for improper mutual fund trading.

According to, the investigation of Ronald A. Suber, senior managing director and manager of global clearing sales at Bear Stearns in San Francisco, and Russell L. Miron, a managing director in its Chicago office, was disclosed in an NASD filing by the executives. Both men denied wrongdoing in the filings and were unavailable for comment.

According to the disclosure, the SEC has notified the executives that its staff is considering action against them for "matters related to certain mutual fund practices."

This isn't the first time the SEC has examined Bear Stearns. Last year, the SEC indicated that it could seek civil charges against the firm for its alleged involvement in market timing with Canary Capital Partners. In 2003, it fired six employees in its private client group, and, just over a month ago, three Bear Stearns brokers disclosed to the NASD that the SEC had notified them of possible disciplinary action for matters related to mutual fund trading practices.

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