Banc of America Securities LLC agreed to pay $26 million to settle allegations of failing to safeguard its forthcoming research reports, including analyst upgrades and downgrades, and for issuing fraudulent research. As part of the settlement, BAS agreed to a censure, a cease-and-desist order, and payment of $26 million in disgorgement and penalties. For more info visit https://www.sec.gov/news/press/2007/2007-42.htm