Rattner close to settling with SEC

Steven Rattner, formerly of private equity firm Quadrangle and the former head of the U.S. auto task force, is close to settling with the SEC over an investigation into a state pension pay-to-play scheme, according to Reuters. Rattner will most likely have to pay $6 million and take a two-year ban from the securities industry. His former firm, Quadrangle, has already paid $7 million to New York and $5 million to resolve the SEC investigation.

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