The investigation into the Silicon Valley bank’s swift collapse is in its early stages, according to reports in The New York Times, The Washington Post and The Wall Street Journal.
The Wall Street Journal, which broke the news of the Justice Department investigation, also said the U.S. Securities and Exchange Commission (SEC) had opened an investigation; the New York Times said it was considering doing so.
Both agencies declined to comment on the reports.
In a statement released last night, SEC Chairman Gary Gensler said the SEC is “specially focused on monitoring market stability and identifying and prosecuting any form of wrongdoing that could threaten investors, capital formation, or markets.”
“If we discover violations of the federal securities laws, we will investigate and take enforcement action,” he said, without naming any companies.
