UBS paying $50M to settle SEC charges on bond sale

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WASHINGTON • Switzerland’s biggest bank, UBS, has agreed to pay about $50 million to settle federal civil charges of misleading investors in its sale of risky mortgage bonds ahead of the 2008 financial crisis. The Securities and Exchange Commission announced the settlement Tuesday with UBS. The SEC said the bank failed to disclose that it had kept $23.6 million in payments it received as it acquired collateral for the mortgage-backed securities. The agency said the money should have gone into th...

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