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Empresas y finanzas

SEC probes insider trading at subprime lenders


    WASHINGTON (Reuters) - Several U.S. federal investigations into subprime lenders involve possible insider trading before announcements of negative news about the lender, a Securities and Exchange Commission member said on Friday.

    SEC Commissioner Elisse Walter said the agency is looking at whether subprime lenders properly accounted for loan loss reserves, impairment of asset values and whether they overvalued foreclosed property and other assets.

    In prepared remarks to a congressional panel, Walter also said the SEC was looking at whether subprime lenders properly disclosed information, including data regarding loan quality, credit risks and the amount and types of subprime exposure.

    (Reporting by Karey Wutkowski and Rachelle Younglai; Editing by Neil Stempleman)