By Denny Jacob
The Securities and Exchange Commission said Macquarie Investment Management Business Trust will pay nearly $80 million to settle charges related to collateralized mortgage obligations.
The SEC said the investment adviser will pay $79.8 million to settle charges for overvaluing about 4,900 largely illiquid collateralized mortgage obligations held in 20 advisory accounts and for executing hundreds of cross trades between advisory clients that favored certain clients over others.
The regulator said in addition to the fine, the Macquarie Group unit agreed to comply with certain undertakings including retaining a compliance consultant to conduct a comprehensive review of its policies and procedures related to, among others, valuation of collateralized mortgage obligations and associated liquidity risks as well as cross trading.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 19, 2024 11:58 ET (15:58 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。