SEC's Breeden To Investigate Salomon's FX Desk In Unregulated Market, What Rules Were Broken?
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Foreign exchange officials and sources at Salomon Brothers Inc. are skeptical that Securities and Exchange Commission chairman Richard Breeden will uncover any link between the firm's foreign exchange trades and its attempt to corner the market in specific U.S. government securities. Many also note that if there were some connection, pinning down an indictment would prove difficult given the fact that the foreign exchange market is unregulated.
Most say allegations that Salomon profited from its
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