Bank of America to Pay $131.8 Million Penalty in C.D.O. Deals
12 Dec 2013, 3:14 pm
The settlement stems from a Securities and Exchange Commission investigation into the structuring and sale of two complex mortgage securities that the bank's Merrill Lynch division sold to investors prior to the financial crisis.
The regulator has settled with GLG Partners after it accused the fund of improperly valuing its investment in a Siberian coal mining company, a move that allowed it to pocket inflated fee revenue of $7.8 million.