Banc Of America To Pay $26M For Research Abuses
As part of the settlement, BAS agreed to censure and a cease-and-desist order in addition to the $26 million disgorgement.
An SEC investigation revealed that from January 1999 to December 2001, BAS failed to detect and prevent the misuse of research reports by the firm. As a result, BAS traders often received information about upgrades and downgrades before...
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