A report by the Securities and Exchange Commission’s inspector general (pdf) offers new insights into what the agency’s enforcement director told Stephen Cutler, general counsel for JPMorgan Chase & Co., on the weekend the bank acquired The Bear Stearns Cos. Inc.
The recently released report looked into allegations that Linda Thomsen, SEC enforcement chief at the time of the takeover in March 2008, improperly gave Cutler information about ongoing SEC investigations involving Bear Stearns. Thomsen had been Cutler’s deputy while he was chief of the SEC’s enforcement division from 2001 to 2005.
