Municipal Bid Rigging Nationwide and Ethics Day in Chicago
A Municipal Bid Rigging Scheme Comes to Light
According to an article in the New York Times this week, Banc of America Securities (which recently merged with Merrill Lynch) agreed to pay the SEC and others $137 million to settle charges related to a municipal bond bid-rigging scheme. For those who think competitive bidding rules are enough, this case should make you think otherwise.
According to an article in the New York Times this week, Banc of America Securities (which recently merged with Merrill Lynch) agreed to pay the SEC and others $137 million to settle charges related to a municipal bond bid-rigging scheme. For those who think competitive bidding rules are enough, this case should make you think otherwise.