By Sarah N. Lynch
WASHINGTON (Reuters) - Bank Leumi <LUMI.TA> will pay $1.6 million and admit to wrongdoing to settle civil charges that it provided investment advice and solicited investments from U.S. customers for more than a decade without registering with federal regulators, U.S. authorities said on Tuesday.
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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