A US federal judge on Monday issued a sharp rebuke to the SEC by throwing out a $33m settlement between the regulator and Bank of America, calling the agreement “cynical” and setting the stage for a trial next year, reports the FT.  The WSJ adds that the order from US district judge Jed Rekoff came as the NY attorney general Andrew Cuomo weighed civil-fraud charges against BofA executives. Charges could be brought against CEO Ken Lewis, and CFO Joseph Price, according to a person familiar with the case.

This entry was posted by Gwen Robinson on Tuesday, September 15th, 2009 at 4:57 and is filed under Capital markets, People. Tagged with andrew cuomo, BofA, sec. Edit this entry.