Updated Friday, July 25, 2014 as of 3:57 PM ET
The firm, based in New York, misrepresented the delinquency status of subprime loans backing the securities, which were sold in 2007, the Securities and Exchange Commission said today in a statement. The company disclosed the amount of the settlement in February.
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More in Regulatory/Compliance
Do you have the best or worst 401(k) plan; 7 deadly sins of retirement; How to avert a Casey Kasem-type drama more »
New rules will require institutional prime funds to allow NAV to float to market value. more »
After being ordered to stop calling his firm fee-only, Rick Kahler claims retribution and threatens a lawsuit. more »
The only person convicted of fraud related to a $20 billion government bail-out program, Jesse Litvak may spend almost a decade in prison for lying to his customers about mortgage-backed securities. more »
U.S. investors are used to treating money-market mutual funds as the equivalent of a checking account. That is about to change for the riskiest of the funds. more »
FINRA takes more than a year to follow up an advisor's written testimony. more »
As the Dodd-Frank law turns four years old, policymakers appear increasingly willing to revisit a key requirement that says banks with $50 billion of assets are systemically risky. more »
Regulators have closed Eastside Commercial Bank in Conyers, Ga., the 13th institution to fail this year. more »
The financial services industry and others are seeking better metrics for analyzing the economic impact of the regulatory reform law, with some saying it is hampering the recovery and having other unintended effects. more »
The banking industry is pushing back against a plan released this week by the Consumer Financial Protection Bureau to publicize more details about consumers' individual complaints about financial companies. more »
Rep. Spencer Bachus (Ala.) is the first Republican in Congress to endorse the Investment Adviser Examination Improvement Act. more »
The panel is comprised of seven public members and six industry representatives, pulling together advocates, attorneys, regulators and executives from firms such as Citigroup, Morgan Stanley and Securities America. more »
Daugs fraudulently misused client assets "to make loans to himself to buy a luxury vacation home and refinance a rare vintage automobile," according to the SEC. more »
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