UBS AG has tentatively agreed to buy back more than $19 billion of illiquid auction-rate securities it sold to clients, in a settlement that state and federal regulators aim to formally announce Monday.

Some details of the settlement, including the possible Monday announcement, were confirmed by Brian McNiff, a spokesman for Massachusetts Secretary of the Commonwealth William Galvin, who is the lead state regulator investigating the Swiss-based bank as part of a multi-state task force.

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