SEC investigates First Republic executives for insider trading amidst banking crisis.

The Securities and Exchange Commission is reportedly investigating trading activity by First Republic Bank executives before the bank's sale to JPMorgan Chase for evidence of improper insider trading. From January to early March, top First Republic executives sold $11.8 million in stock. Billionaire Warren Buffett criticized First Republic for offering jumbo, fixed-rate mortgages not backed by the government that in some cases required only interest payments. Senator Elizabeth Warren sent a letter accusing former CEO Michael Roffler of "mismanagement" and seeking more information about executive stock sales and compensation, and the bank's lobbying to weaken banking regulations.