UBS To Pay SEC $60M Over CDO Fraud

Law360, New York (July 31, 2013, 2:20 PM EDT) -- UBS AG has reportedly agreed to pay the U.S. Securities and Exchange Commission $60 million to settle claims that it peddled toxic mortgage-backed securities through a collateralized debt obligation that tanked in the 2008 financial crisis, a settlement that would rank low among the regulator's deals with other major banks over similar allegations.

The settlement could be announced as early as Wednesday as the SEC awaits a verdict in the trial of former Goldman Sachs Group Inc. trader Fabrice Tourre, who is accused of fraud for...
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