Rattner Expected to Settle With SEC

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Quadrangle Group founder and former Obama car czar Steven Rattner has agreed to settle with the SEC over kickback claims involving the New York State pension fund, according to the Times. He'll accept a multi-year ban from the securities industry, something he's resisted in the past as an element of settlement. He'll also pay a fine of more than $5 million. He has not yet reached a settlement with New York attorney general Andrew Cuomo. [NYT]