Event
Consolidated Supervised Entities program
The SEC’s voluntary program, begun in 2004, to supervise the holding companies of the largest investment banks; discontinued in September 2008.
- Dates
- 21 Jun 2004 – Sep 2008
- Also known as
- CSE program
Connections 7
involved
- U.S. Securities and Exchange Commission created and ran the program Primary record 1
- Bear Stearns one of the five investment banks that volunteered Primary record 1
- Lehman Brothers one of the five investment banks that volunteered Primary record 1
- Goldman Sachs one of the five investment banks that volunteered Primary record 1
- Merrill Lynch one of the five investment banks that volunteered Primary record 1
- Christopher Cox as SEC chairman, called it “fundamentally flawed from the beginning,” as the FCIC reports According to Financial Crisis Inquiry Commission Primary record 1
appears in
Timeline 1 date
- 21 Jun 2004 – Sep 2008 Consolidated Supervised Entities program
Proof 1 source
-
The Financial Crisis Inquiry Report (final report incl. dissenting statements), Financial Crisis Inquiry Commission.
Primary record
the SEC suggested the creation of the Consolidated Supervised Entity (CSE) program to oversee the holding companies of investment banks and all their subsidiaries.
the five largest investment banks volunteered for this supervision
Lehman Brothers, for example, wrote that it “applauds and supports the Commission.”
Former SEC chairman Christopher Cox called the CSE supervisory program “fundamentally flawed from the beginning.”
Securities and Exchange Commission, Office of Inspector General, “SECs Oversight of Bear Stearns and Related Entities: The Consolidated Supervised Entity Program,” Report No. 446-A, September 25, 2008
Page history 1 change
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