Tue, January 14, 2025
Mon, January 13, 2025
[ Mon, Jan 13th 2025 ]: CNET
Rocket Money Review 2025
[ Mon, Jan 13th 2025 ]: CFO
A CFO action plan for 2025
[ Mon, Jan 13th 2025 ]: CIO
10 top priorities for CIOs in 2025
Sun, January 12, 2025
Sat, January 11, 2025

BMO unit to pay $40.7 million in US SEC settlement over misleading bond sales

BMO Capital Markets, a unit of Bank of Montreal, has agreed to pay $407 million to settle charges brought by the U.S. Securities and Exchange Commission (SEC) for misleading investors about the risks associated with $12.5 billion in bond sales. The SEC alleged that from 2010 to 2016, BMO misrepresented the quality of collateral backing the bonds, which were linked to risky structured notes. These notes were tied to the performance of other securities, and BMO failed to disclose that the collateral was not as secure as presented, leading investors to believe the bonds were safer than they actually were. This settlement marks one of the largest penalties ever imposed by the SEC for violations related to bond offerings.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/bmo-unit-pay-407-million-us-sec-settlement-over-misleading-bond-sales-2025-01-13/ ]