Money Management Executive

Spitzer, SEC Subpoena Oppenheimer Holdings

November 05, 2004, 1:00 a.m. EST 1 Min Read

Oppenheimer Holdings Inc. acknowledged receiving subpoenas from securities regulators investigating allegations of improper mutual fund trading patterns, The Wall Street Journal reports.
The securities firm noted on at least one previous occasion that it had participated in the Securities and Exchange Commission's initial widespread probe of mutual fund late trading and improper market-timing.
Earlier this week, Oppenheimer said New York Attorney General Eliot Spitzer and additional unnamed investigators had teamed up with the SEC to interview several employees to obtain more facts about the company's brokerage and securities clearing activities.

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