Bank Leumi to pay $1.6 million over 'unregistered' cross-border business
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Pedestrians are reflected in the windows of a branch of Bank Leumi, Israel's second-largest lender, in Tel Aviv, Israel May 30, 2013. REUTERS/Nir Elias/File Photo
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By Sarah N. Lynch
WASHINGTON (Reuters) - Bank Leumi
The Securities and Exchange Commission said the Israeli bank maintained "several hundred securities accounts" and managed more than $500 million in securities for U.S. customers, even though it failed to register as required by U.S. law.
(Reporting by Sarah N. Lynch)
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