WASHINGTON — A federal court in New Jersey has approved UBS Financial Services Inc.’s $47.2 million settlement with the Securities and Exchange Commission over bid-rigging of municipal bond-related contracts as well as the amounts of restitution that are to go to each of 105 state and local issuers that were defrauded.

Judge William J. Martini of the U.S. District Court for the District of New Jersey in Newark on Friday signed the final judgment. It is part of an overall settlement of more than $160 million that UBS entered into with the SEC, the Internal Revenue Service and the Justice Department, along with 25 attorneys general.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.