Items Tagged with 'Securities and Exchange Commission'

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Utah real estate company charged with operating $28 million Ponzi scheme

SEC accuses Marquis Properties of bilking more than 250 investors
A Utah real estate investment company offered investors the promise of a guaranteed return on their investment in “turnkey” houses, but instead bilked more than 250 people out of $28 million by operating a Ponzi scheme, the Securities and Exchange Commission said Thursday.
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SEC fines Ocwen $2 million for misstating financials; Altisource, HLSS relationships

Used flawed MSR valuation methods
Ocwen Financial will pay a $2 million fine after a Securities and Exchange Commission investigation found that the nonbank misstated it financials on several occasions by using a “flawed, undisclosed methodology” to value mortgage servicing rights that were sold to an Ocwen-associated company, Home Loan Servicing Solutions.
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Attention financial industry: SEC reveals 2016 compliance exam targets

Here are the areas that the SEC will be focusing on this year

The Securities and Exchange Commission revealed Monday what areas of the financial industry its compliance examiners will be focusing on in 2016. The SEC said that there are several new areas of focus for its compliance exams this year. Here's what you need to know.


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St. Joe Company, former execs settle with SEC over alleged real estate overvaluing

Company accused of "materially overstating" earnings during financial crisis
The St. Joe Company, one of Florida’s largest landowners and real estate developers, and several of the company's former executives settled charges brought by the Securities and Exchange Commission, which accused the company of overvaluing its real estate holdings during the financial crisis.
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SEC settles with former Fannie Mae execs over subprime fraud

The settlement amount is much smaller than you think
A 2011 lawsuit brought by the Securities and Exchange Commission against two former Fannie Mae executives is over. The execs were charged with misleading investors about the quality of subprime mortgages. However, it's the fine print that is leaving people wondering.
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SEC, U.S. Attorney charge three former Nomura RMBS traders with fraud

Allegedly repeatedly lied to customers, trained junior traders to do the same
The Securities and Exchange Commission and the U.S. Attorney’s Office for the District of Connecticut are charging three former Nomura Securities International residential mortgage-backed securities traders with fraud, accusing the trio of “repeatedly lying” to customers about the pricing information of mortgage bonds and defrauding customers of millions of dollars.
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SEC puts an end to Carrington Capital investigation

After 18 months, they got nothing
After an 18-month investigation, the Securities and Exchange Commission will not issue any penalties or pursue any enforcement action against Carrington Capital Management over its acquisition of New Century Financial.
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It’s over: SEC settles with Freddie Mac executives

Former Freddie Mac CEO, others faced charges over subprime mortgages
The Securities and Exchange Commission’s high-profile case against several former Freddie Mac executives over allegedly misleading investors about the quality of subprime mortgages is now over, and it ended rather quietly.
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