SEC, MCI to settle?


The Wall Street Journal reports that SEC and MCI are hammering out a “final agreement as early as Monday to settle charges that the telecommunications firm misled investors with more than $11 billion of accounting fraud, according to people familiar with the matter.The fine is expected to be “exponentially larger” than the $10 million fine Xerox Corp. paid to the SEC last year, which was the largest penalty to date.”

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