SEC sanctions 22 underwriters for municipal bond offering violations
( September 30, 2015, 14:42 GMT | Official Statement) -- MLex Summary: The US Securities and Exchange Commission sanctioned 22 underwriting firms, including UBS Financial Services and PNC Capital Markets, for violations in municipal bond offerings between 2010 and 2014. The SEC said the firms sold municipal bonds using offering documents containing materially false statements or omissions about compliance with continuing disclosure obligations. The firms will pay penalties ranging from $60,000 to $500,000. It is the second round of actions against underwriters under an initiative launched last year.Statement follows in full....
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