WAL-MART: WHAT SEC PROBE?
NEW YORK — Responding to a broadcast report, Wal-Mart said Wednesday that it is unaware of any investigation being conducted by the Securities and Exchange Commission.
The cable channel CNBC reported that the SEC was looking into the world’s largest company over an unspecified matter. The agency would not confirm or deny that any investigation was in progress, but it typically does not comment on the existence of such probes in the early stages.
Since the Enron accounting scandal, the SEC has tightened its oversight and enforcement of financial regulations. It also recently has launched investigations into other major companies, including Worldcom and Hewlett-Packard.