HALISTER: BofA Said to Be in Talks to Settle With SEC for $400m-$450m: WSJ

BofA Said to Be in Talks to Settle With SEC for $400m-$450m: WSJ

(Bloomberg) -- Bank of America in talks to settle with U.S. regulators to settle allegations that it violated rules designed to safeguard client accounts, WSJ reports, citing unidentified people familiar.
  • Settlement may be announced as soon as Thursday
  • SEC had been investigating if co. had used complicated trades, loans to free up billions of cash for its own uses that it would usually have set aside for regulatory requirements
  • SEC, BofA declined to comment to WSJ
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
BAC US (Bank of America Corp)

To de-activate this alert, click here

UUID: 7947283