Bank of America, Credit Suisse, report subpoenas in Refco inquiry | VailDaily.com
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Bank of America, Credit Suisse, report subpoenas in Refco inquiry

NEW YORK – Bank of America Corp. has received regulatory inquiries, including subpoenas, as part of investigations into the collapse of Refco Inc., the bank said Wednesday.Bank of America was one of three lead underwriters of Refco’s $583 million initial public offering in August. Refco, a commodities and futures brokerage, filed for bankruptcy Oct. 17 after its former chief executive was indicted on securities fraud.Another lead underwriter of Refco’s IPO, Credit Suisse Group, disclosed in a regulatory filing Tuesday that it had received subpoenas and other requests for information as part of the probes. The Securities and Exchange Commission is one of the regulators that issued the subpoenas, according to Credit Suisse.Goldman Sachs Group Inc. was the other lead underwriter of Refco’s IPO. Goldman spokesman Michael DuVally declined to comment on whether the investment bank has been contacted by regulators. An SEC spokesman also declined to comment.Timothy Gilles, a Bank of America spokesman, that the Charlotte-based bank received the subpoenas and other regulatory inquiries. He wouldn’t identify the agency that is seeking the information.”We will cooperate fully,” Gilles said.Also Wednesday, Sandler O’Neill & Partners L.P said it has received a request for information from the Commodity Futures Trading Commission in connection with the underwriting of Refco’s IPO.Sandler O’Neill was one of the co-managers on the offering along with investment banks Merrill Lynch & Co., JP Morgan Chase & Co., Deutsche Bank AG and HSBC Holdings PLC.”We have received a request for information from the CFTC in connection with the underwriting but nothing from any other regulator,” Sandler O’Neill spokesman Michael Lacovara said.Vail, Colorado


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