Fri, January 17, 2025
Thu, January 16, 2025
[ Thu, Jan 16th ]: MSN
Opening Bell: 1.15.25
Wed, January 15, 2025
Tue, January 14, 2025
Mon, January 13, 2025
[ Mon, Jan 13th ]: CNET
Rocket Money Review 2025
[ Mon, Jan 13th ]: CFO
A CFO action plan for 2025
Sun, January 12, 2025
Sat, January 11, 2025
Fri, January 10, 2025
Thu, January 9, 2025
Wed, January 8, 2025
Tue, January 7, 2025

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


  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. s-sec-settlement-over-misleading-bond-sales.html
  Print publication without navigation Published in Business and Finance on by Reuters
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source


  A unit of Bank of Montreal agreed to pay $40.7 million to settle U.S. Securities and Exchange Commission charges that it failed to supervise employees who misled investors about the attractiveness of mortgage-backed bonds the bank was selling.

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/ ]

Publication Contributing Sources

Similar Business and Finance Publications