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8 months ago
Stifel unit to pay more than $24.5 mln over wrongdoing with Wisconsin sale
December 8, 2016 / 2:50 PM / 8 months ago

Stifel unit to pay more than $24.5 mln over wrongdoing with Wisconsin sale

WASHINGTON, Dec 8 (Reuters) - Stifel, Nicolaus & Co. Inc and one of its former executives have agreed to pay more than $24.5 million and admit to wrongdoing over the sale of synthetic collateralized debt obligations (CDOs) to five Wisconsin school districts, U.S. regulators said.

The U.S. Securities And Exchange Commission, in a statement on Thursday, said the company's actions would resolve the agency's 2011 complaint. Stifel, Nicolaus & Co. Inc is a unit of Stifel Financial Corp. (Reporting by Susan Heavey and Tim Ahmann)

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