2025-01-15 18:47
IndustrySEC Fines BMO Capital Markets $40M for Misleading
The SEC has penalized BMO Capital Markets over $40 million for failing to supervise employees who misrepresented mortgage-backed bonds. From December 2020 to May 2023, $3 billion in misleadingly structured bonds were sold, violating Section 15(b)(4)(E) of the Securities Exchange Act. The SEC has set up a fair fund to compensate affected investors.
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SEC Fines BMO Capital Markets $40M for Misleading
| 2025-01-15 18:47The SEC has penalized BMO Capital Markets over $40 million for failing to supervise employees who misrepresented mortgage-backed bonds. From December 2020 to May 2023, $3 billion in misleadingly structured bonds were sold, violating Section 15(b)(4)(E) of the Securities Exchange Act. The SEC has set up a fair fund to compensate affected investors.
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