Retail clients News
Citigroup, Merrill to buy back auction-rate debt
New
York: Citigroup and Merrill Lynch said they would buy back billions of dollars
of illiquid auction-rate securities from retail clients, and Citigroup agreed
to pay a $100 million fine to settle charges it fraudulently misled investors
about the debt's risk.
The announcements could pave the way for settlements or buybacks by UBS AG and other financial companies whose clients own such
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