UBS Agrees to Pay $160.2 Million in U.S. Muni Bid-Rig Probe
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UBS AG, Switzerland’s largest bank, agreed to pay $160.2 million to settle charges it rigged bids on at least 100 U.S. municipal-bond transactions that generated “millions of dollars in ill-gotten gains.”
UBS will pay $47.2 million to settle Securities and Exchange Commission charges and $113 million to end cases brought by other federal and state authorities, the SEC said today in Washington. Some of the money will be returned to municipalities, the SEC said.