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BofA Securities resolves criminal investigation under revised CEP

Image of a clock saying "Bank of America."
Photo: Smith Collection/Gado/Getty Images

Julie DiMauro

2 min read
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DOJ said it didn’t prosecute BofA Securities because the latter promptly self-reported and cooperated, calling it an early test of revised corporate enforcement policy.

The US Department of Justice (DOJ) said an investment banking arm of Bank of America Corp. will pay roughly $5.6m to resolve a criminal investigation into market manipulation allegations involving two former traders on its US Treasury desk at Bank of American Securities Inc. (BofA Securities).

More specifically, the two

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