08 August 2008
UBS Settles on Auction Rate Securities; BoA Hit with Subpoenas
UBS has settled with the states of Massachusetts and New York, and agreed to buy $19.4 billion in auction rate securities at face value, and pay $150 million in fines.
Meanwhile, Bank of America has received subpoenas from the SEC and other agencies on its ARS activities.
Financial "innovation", the gift that keeps on giving.
Meanwhile, Bank of America has received subpoenas from the SEC and other agencies on its ARS activities.
Financial "innovation", the gift that keeps on giving.
Labels:
Corruption
,
Finance
,
Justice
,
regulation
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