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)
