Deals
Political Donations, EU Banks, Citigroup, FCC: Compliance
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The U.S. Securities and Exchange Commission said bankers may be donating illegally to state and local politicians who hire them to underwrite bond deals.
The SEC’s Office of Compliance Inspections and Examinations said on Aug. 31 that banks may be breaking the law by underwriting bond deals within two years of the donations. The SEC said financial institutions may also have made inadequate disclosures to regulators.