BMO dismissed a managing director as it was finalizing SEC …

Jan 27, 2025 · Bank of Montreal BMO-T has terminated a New York-based managing director who was part of a U.S. regulatory probe into the bank’s debt-marketing practices. Records …

CouponFollow Extension

$40
OFF

BMO Unit To Pay $40.7 Million In US SEC Settlement Over …

3 weeks from now

NEW YORK, Jan 13 (Reuters) - A unit of Bank of Montreal (BMO.TO), opens new tab agreed to pay $40.7 million to settle U.S. Securities and Exchange Commission charges that it failed to …

reuters.com

$40
OFF

Bank Of Montreal Paying $40 Million To Settle SEC Charges It …

3 weeks from now

Jan 13, 2025 · By Robb M. Stewart . Bank of Montreal will pay more than $40 million to settle charges by the U.S. Securities and Exchange Commission that the big Canadian lender failed …

morningstar.com

$40
OFF

BMO Agrees To Pay $40M US Settlement On SEC Charges Related To …

3 weeks from now

Jan 13, 2025 · The U.S. Securities and Exchange Commission says BMO has agreed to pay more than $40 million US to settle charges related to the bank's alleged supervision failure in …

cbc.ca

$40
OFF

BMO Unit To Pay $40.7 Million In US SEC Settlement Over …

3 weeks from now

Jan 13, 2025 · The SEC said BMO structured some bonds with a sliver, often just $1,000, of mortgages with higher interest rates, in a way that suggested the bonds were backed by large …

usnews.com

$40
OFF

BMO Capital Markets Settles With SEC Over Bond Desk Supervision

3 weeks from now

Jan 13, 2025 · BMO Capital Markets agreed to pay more than $40 million to settle U.S. Securities and Exchange Commission charges it failed to properly supervise employees who sold …

reuters.com

$40
OFF

BMO Unit To Pay $40M In SEC Settlement - USA Herald

3 weeks from now

Jan 13, 2025 · BMO Capital Markets has agreed to a $40 million settlement with the U.S. Securities and Exchange Commission (SEC) over allegations that the broker-dealer failed to …

usaherald.com

$40
OFF

BMO Capital Markets To Pay $40M In SEC Settlement

3 weeks from now

Jan 13, 2025 · BMO Capital Markets has agreed to pay more than $40 million to settle charges brought by the SEC for failing to supervise employees involved in the sale of mortgage-backed …

investmentnews.com

$40
OFF

BMO To Pay $40.6M Over ‘misleading’ Mortgage-backed Bonds

3 weeks from now

Jan 16, 2025 · BMO agreed to pay more than $40.6 million to settle allegations that its capital-markets unit failed to supervise employees who sold mortgage-backed bonds with a …

bankingdive.com

$40
OFF

SEC Orders BMO Capital To Pay $40 Million Over Misleading …

3 weeks from now

Jan 14, 2025 · BMO did not admit or deny the SEC’s findings but consented to a cease-and-desist order to prevent further violations. BMO employees sold mortgage-backed bonds using …

financefeeds.com

FAQs about BMO dismissed a managing director as it was finalizing SEC … Coupon?

Did BMO use misleading information to make mortgage-backed securities more marketable?

BMO recently agreed to pay more than US$40 million to settle claims stemming from an SEC investigation into its mortgage-backed bonds desk. The agency alleged that employees of the bank’s capital-markets business used misleading information to make mortgage-backed securities more marketable. ...

Why did BMO settle SEC charges?

Earlier in January, BMO settled SEC charges in a matter of alleged deceptive structuring and marketing of CMOs, agreeing to pay a US$19-million fine as well as US$21.7-million in disgorgement of profits, plus interest. Christopher Katsarov/The Globe and Mail Bank of Montreal ...

Did BMO fail to supervise its registered representatives?

The SEC found that BMO failed to reasonably supervise its registered representatives involved in the offer and sale of Agency CMO Bonds, as required by Section 15 (b) (4) (E) of the Securities Exchange Act of 1934. ...

What happened to BMO Capital Markets?

It charged BMO Capital Markets with failing to supervise employees who engaged in the practice from December 2020 to May 2023. The firm agreed to return US$19.4 million in gains to those who were affected and pay a US$19 million civil penalty along with US$2.2 million in interest. The bank did not admit to or deny the allegations. ...

Did BMO admit wrongdoing?

BMO did not admit or deny wrongdoing in agreeing to settle. Its payment includes the $19 million fine, $19.42 million of disgorgement and $2.24 million of interest. BMO also agreed to a censure. ...

Did Bank of Montreal mislead investors?

NEW YORK (Reuters) - A unit of Bank of Montreal agreed to pay $40.7 million to settle U.S. Securities and Exchange Commission charges that it failed to supervise employees who misled investors about the attractiveness of mortgage-backed bonds the bank was selling. The settlement announced by the SEC on Monday includes a $19 million civil fine. ...