US - The Securities and Exchange Commission (SEC) has finalised settlements with Citigroup Global Markets, Inc., UBS Securities LLC and UBS Financial Services, Inc. that will provide nearly $30bn to investors who bought auction rate securities (ARS) before the market froze in February.
The SEC said the settlements resolved the SEC's charges that both firms misled investors regarding the liquidity risks associated with the ARS they underwrote, marketed and sold. "Today's settlem...
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