U.S. authorities look into whether large banks misled investors

U.S. prosecutors are working with the Securities and Exchange Commission to look into whether some major banks, including Morgan Staley, Deutsche Bank, UBS, JPMorgan Chase and Citigroup, might have misled investors regarding their role in collateralized debt obligations, a source said. Prosecutors reportedly are in the early stages of gathering evidence but have not issued subpoenas or started outlining potential cases.