Civil Plaintiff

BMO Capital to Pay $40M in SEC Settlement Over Bond Trading Oversight

BMO Capital Markets will pay over US$40 million to resolve allegations from the U.S. Securities and Exchange Commission (SEC) that it failed to properly supervise its agency bond trading operations.

The SEC announced Monday that BMO Capital was penalized for inadequate oversight of staff involved in selling mortgage-backed securities. These employees allegedly distributed offering materials and bond metrics that misrepresented the underlying collateral of the bonds.

Read more at Wealth Professional.

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