BOSTON—The Securities and Exchange Commission is investigating a Medfield man they say helped win participation in $14 billion in bond deals after raising money for state Treasurer Tim Cahill, who is running for governor.
The SEC said John Kendrick, a representative of Texas-based Southwest Securities Inc. donated $1,625 to Cahill's campaign between 2003 through 2008 and raised another $9,000 from other donors.
Regulators said Southwest, with Kendrick's knowledge, participated as co-manager for 19 negotiated underwritings issued by Cahill totaling about $14 billion.
Cahill's campaign said he didn't know Kendrick was in violation of SEC rules and will return any suspect donations.
Kendrick said he was unaware he was in violation of the rules.
Southwest agreed to pay about $470,000 to settle the case.
