The impact Enrons collapse has had on investors and financial markets will be the subject of a hearing Wednesday by two House subcommittees. The House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises and the Subcommittee on Oversight and Investigations will examine potential violations of securities law and the handling of the companys 401(k) plan.
Separately, Sen. Jeff Bingaman, D-N.M., a member of the Senate Health, Education, Labor and Pensions Committee, plans a hearing early next year on Enrons handling of its 401(k) plan, according to an aide. Mr. Bingaman also may introduce legislation that would limit the amount of company stock that can be held in retirement plans and would allow participants to sell company stock contributed as a match by their employer. Mr. Bingaman recently introduced legislation that would allow 401(k) participants to receive advice on investing.