George K. Baum Overcharged School District, Regulator Says

Updated on
  • Bond dealer Agrees to $100,000 Fine in enforcement case
  • Firm had justified fee because of cost to pass bond elections

Municipal-bond underwriter George K. Baum & Co. agreed to pay a $100,000 fine over allegations it charged a school district four times the typical fee to sell debt, in part to help cover the cost of bond elections, a regulator of securities dealers said.

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