JPMorgan Chase Bank N.A. is paying more than $135 million in total monetary relief to settle the SEC’s allegations that it improperly handled “pre-released” American Depositary Receipts (ADRs), an industry practice that the bank says it has stepped away from. The SEC’s actions against JPMorgan constitute the “eighth action against a bank or broker, and… Read More >>
RBS Settles RMBS Misconduct Charges for $4.9 Billion
The Royal Bank of Scotland Group (RBS) has signed a $4.9 billion settlement with the U.S. Department of Justice (DoJ) over allegations that the bank misguided investors in the underwriting and issuing of residential mortgage-backed securities (RMBS) from 2005 to 2008. Essentially, DoJ officials allege that RBS “securitized tens of thousands of loans that it… Read More >>
