SEC Fines Macquarie Investment Management $80M to Settle CMO Charges

Dow Jones

Sep 19, 2024

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)

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Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4118","symbol_name":"综合性资本市场","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2468607504","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468607504","pubTimestamp":1726761480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4118":"综合性资本市场","BK7511":"ESG概念","MQBKY":"Macquarie Group, Ltd.","BK7046":"综合性资本市场","MQG.AU":"Macquarie"},"translate_title":"SEC对麦格理投资管理公司罚款8000万美元以和解CMO指控","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MQBKY":0.9,"MQG.AU":0.9,"CMO":1},"content_text":"By Denny Jacob \n\n\n \n\n\n  The Securities and Exchange Commission said Macquarie Investment Management Business Trust will pay nearly $80 million to settle charges related to collateralized mortgage obligations. \n\n\n  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. \n\n\n  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. \n\n\n \n\n\n  Write to Denny Jacob at denny.jacob@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 19, 2024 11:58 ET (15:58 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}