WASHINGTON — UBS Financial Services Inc. has agreed to pay more than $160 million to settle antitrust, securities fraud, tax and other charges with three federal agencies and 25 state attorneys general for rigging bids for at least 100 reinvestment transactions in 36 states, threatening the tax-exempt status of more than $16.5 billion of municipal bonds.
Justice Department and Securities and Exchange Commission officials on Wednesday announced the settlement with the firm, which left the municipal bond market in 2008. A spokesman for the firm said its departure from the muni market had nothing to do with the investigation, which has been ongoing since at least 2005.
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