(Bloomberg) -- Legg Mason Inc. will pay more than $34 million to settle a U.S. regulator's allegations that one of its units won business from Libya's sovereign wealth fund by paying bribes.
Legg Mason's Permal Group Inc. subsidiary partnered with Societe Generale SA to solicit investment business from Libyan government officials, the Securities and Exchange Commission said in a Monday order.
To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net
To contact the editor responsible for this story: Gregory Mott at gmott1@bloomberg.net
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