The Securities and Exchange Commission and the Justice Department are both in the early stages of their investigations into the collapse of Silicon Valley Bank, according to sources familiar with the matter.
Both federal agencies are looking into the bank’s failure and the actions by senior executives in the lead-up to the decision by federal regulators to shutter the lender last week, one of the sources said.
No one has been accused of any wrongdoing and the person familiar with the matter noted that investigations into a significant event like the failure of Silicon Valley Bank are common in the immediate aftermath.
SEC Chair Gary Gensler, while declining to identify any specific institution, appeared to allude to the likely step in a statement on Sunday.
“Without speaking to any individual entity or person, we will investigate and bring enforcement actions if we find violations of the federal securities laws,” Gensler said in the statement.
CNN previously reported the Justice Department probe.
This article was originally published by CNN.
