BRIEF-SEC says BofA's Merrill Lynch to pay more than $131 mln for misleading investors in CDOs

Thu Dec 12, 2013 1:21pm EST

Dec 12 (Reuters) - Bank of America Corp : * SEC says charges Merrill Lynch with misleading investors in cd0s, and that

firm agrees to $131 million settlement * SEC says merrill, now part of Bank of America Corp made faulty

disclosures about collateral used in cdos it structured and marketed to

investors * SEC says merrill also settled charges related to inaccurate books and records * SEC says merrill failed to inform investors that hedge fund firm magnetar

capital had role and exercised significant influence over selection of

collateral for octans i cdo ltd and norma cdo i ltd * SEC says settlement includes $56.3 million fine, $56.3 million disgorgement,

$19.2 million interest; and that merrill does not admit or deny SEC findings

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.