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Home | Tag Archives: SEC

Tag Archives: SEC

Barclays Settles with SEC in RMBS Case

Barclays Capital will pay more than $16 million in remediation and penalties in response to charges brought against the bank by the U.S. Securities and Exchange Commission. The charges alleged two Barclays traders misled customers and that the bank failed to properly supervise them. The traders have also agreed to individual settlements of their own.

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LoanDepot Delays IPO at the 11th Hour

money-steps

But on Thursday, the company announced that it will postpone the biggest IPO of the week, due to rough conditions in the market. Conditions, have, of course, been stormy on Wall Street to say the least. On Thursday, the Dow Jones Industrial Average dropped 254.15 points, or nearly 1.5 percent. Over the preceding week, it has dropped a total of 2.3 percent.

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Former Fannie Mae CEO Claims SEC Failed to Prove Accusations of Subprime Lending Fraud

investigation

Mudd, the CEO of Fannie Mae during the years leading up to the housing crash (2005 to 2008), and former Fannie Mae executives Enrico Dallavecchia (chief risk officer) and Thomas A. Lund (EVP), requested that U.S. District Judge Paul Crotty grant them summary judgment on the grounds that the SEC had not shown evidence that the GSE misled or made false statements to investors about its subprime portfolio.

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Florida Stock Promoter Charged with Defrauding Investors

The Securites and Exchange Commission (SEC) filed fraud charges against a former Florida-based stock promoter, Robert J. Vitale, who is currently serving a two-year prison term for lying to SEC investigators. The SEC's complaint alleges Vitale defrauded investors in a Florida real estate venture, sold unregistered securities, and acted as an unregistered broker-dealer.

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SEC Charges Fifth Third and Exec for Improper Loan-Loss Accounting

The Securities and Exchange Commission (SEC) charged the holding company of Fifth Third Bank and its former CFO with improper accounting of commercial real estate loans during the financial crisis. Fifth Third will pay $6.5 million to settle the charges. Former CFO Daniel Poston must pay a $100,000 penalty and has been suspended from practicing as an accountant for any publicly traded or SEC-regulated company.

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SEC Says RBS Securities Misled Investors in Subprime Deal

The Securities and Exchange Commission (SEC) on Thursday charged RBS Securities Inc., the wholesale banking subsidiary of the Royal Bank of Scotland, with misleading investors in a 2007 subprime residential mortgage-backed security (RMBS) offering. RBS agreed to settle the matter and pay more than $150 million, which the SEC will use to compensate investors for harm suffered as a result of the RBS deal.

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