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SEC withdraws order allowing Rattner's new role with Guggenheim

The SEC on April 29 vacated an that would have allowed StevenRattner to return to the securities industry through a dealmaking role forGuggenheim Securities LLC.

The SEC in March reportedly granted to Rattner to work forGuggenheim. Rattner in 2010 had agreed to settle SEC charges alleging his involvement in awidespread kickback scheme to obtain investments from a New York state pensionfund.

The SEC's initial order was reportedly approved by theagency's lower-level staff; however, SEC Commissioners Michael Piwowar and KaraStein later set aside the earlier order to determine the case themselves.

Guggenheim Securities is the investment banking and capitalmarkets division of GuggenheimPartners LLC.