Regulators are widening their probes into the collapse of the auction-rate securities market as state regulators from New York to Washington scrutinize how Wall Street peddled the bonds to investors and issuers.

New York Attorney General Andrew Cuomo subpoenaed 18 banks and securities firms including UBS AG and Merrill Lynch & Co. in an investigation that could lead to criminal charges, a person familiar with the probe said yesterday.

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