Categorized | Local Business

SEC Investigation Ends With No Action

Posted on 23 August 2013

Suffolk Bancorp parent company of Suffolk County National Bank ( announced last week that the previously disclosed investigation by the U.S. Securities and Exchange Commission (SEC) has been closed and no action has been taken against the company. The SEC’s New York regional office had formally requested certain loan files, other records and information from the company in connection with its investigation but had not asserted that any federal securities law violation had occurred.

“I am very pleased with the closing of this matter by the SEC,” President and CEO Howard C. Bluver said in a press release. “This represents yet another positive development as we move beyond legacy challenges and continue to focus on future growth and financial performance.”

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