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The regulator has settled with a former head trader in residential mortgage-backed securities (RMBSes) whose clients included investment advisers to hedge funds.
The SEC reports that Edwin Chin, the former head trader in residential mortgage-backed securities (RMBS) at Goldman Sachs, has “agreed to be barred from the securities industry and pay $400,000 to settle charges that he repeatedly misled customers and caused them to pay higher prices.” That payment represents $200,000 in disgorgement, $50,000 in prejudgment interest...
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