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SEC Aims for Increased Junk-Bond Oversight
Michael SchroederStaff Reporter of The Wall Street Journal
Updated May 21, 1999 1:06 am ET
WASHINGTON -- The Securities and Exchange Commission wants greater oversight of private junk-bond offerings, and guess who is looming behind the opposition: former junk-bond king Michael Milken.
Regulators want to close a loophole that allows issuers to sell junk bonds first and register them later. Latham & Watkins, a Los Angeles law firm, is directing an assault on the rule change on behalf of Wall Street's largest underwriters. To help in the effort, Latham & Watkins hired Chicago-based Lexecon Inc., which was purchased...