Items Tagged with 'SEC'


  • Realogy denies merger talks with Compass

    Compass’ claim “was clearly designed to create distraction,” Realogy’s CEO says
    Realogy, the biggest U.S. real estate brokerage, on Monday took the unusual step of disclosing to the Securities and Exchange Commission an internal memo sent by CEO Ryan Schneider to his employees outlining something that wasn’t going to happen. “We want to be clear with you that we have never had discussions to sell or merge Realogy with Compass,” Schneider told his employees.
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  • New York Fed names Lacey Dingman as chief human resources officer

    Dingman formerly worked with FRB, SEC
    On September 16, Lacey Dingman will join the Federal Reserve Bank of New York as executive vice president, head of the human resources group and chief human resources officer. Formerly a senior leader at the Securities and Exchange Commission and most recently a senior associate director at the Federal Reserve Board, Dingman brings more than 20 years of experience in the public sector to the role. 
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  • Krebs says the SEC is investigating First American data exposure

    SEC reportedly sends letter requesting documents
    The SEC is reportedly investigating an alleged security incident involving First American’s website that may have exposed more than 885 million records related to real estate closings and mortgage fundings going back to 2003, cybersecurity expert Brian Krebs said on Monday. Ben Shoval, a Seattle real estate developer cited by Krebs in May as the person who alerted him to the exposed data, said he received a letter last week from the SEC’s enforcement division stating it was investigating.
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  • Facebook to pay massive fines in settlement with FTC, SEC

    Social media giant will cough up serious change for Cambridge Analytica debacle
    It’s been a rough year for Facebook as the world’s largest social media platform has been forced to answer for its beach of its users’ privacy by allowing Cambridge Analytica to access personal information without consent. On Wednesday, the company was slapped with two separate fines for the debacle, agreeing to massive payouts to the Federal Trade Commission and the Securities Exchange Commission to make amends.
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  • Nomura to pay $25 million for mortgage bond traders' lies to customers

    SEC claims Nomura traders misled bond buyers and sellers
    Nomura Securities International will pay a fine of $25 million after the Securities and Exchange Commission accused several of the company’s former mortgage bond traders of lying to customers about the nature of the trades. According to the SEC, several Nomura RMBS and CMBS traders made “false and misleading statements” to customers while negotiating the sales of those bonds.
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  • Who is new SEC Commissioner Allison Herren Lee?

    Trump taps Democrat Lee to top role at the agency for the next 3 years
    Allison Herren Lee was sworn into office as commissioner of the Securities and Exchange Commission on Monday after her nomination was unanimously backed by the Senate. Here's the scoop on the new head of the nation's far-reaching securities regulator.
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  • Live Well Financial forced into involuntary bankruptcy

    Judge grants creditors' petition to push lender into Chapter 7 liquidation
    Live Well Financial has officially entered bankruptcy protection, as a Delaware judge granted a petition Monday that forces the defunct lender into Chapter 7 involuntary bankruptcy. Court documents also reveal that Ginnie Mae has begun taking steps to terminate and extinguish Live Well’s interests in various MBS pools.
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  • SEC, FBI reportedly investigating Live Well Financial collapse

    Creditors' court documents say authorities are looking into defunct lender and its CEO
    Trouble continues to brew for Live Well Financial, the forward and reverse mortgage lender that unexpectedly went bust last month, as court documents reveal that authorities are looking into the lender. According to documents filed by Live Well’s creditors, the SEC, the U.S. Attorney's Office in the Southern District of New York, and the FBI’s Bank Fraud Division have all been poking around for information on Live Well’s dealings.
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  • Top U.S. landlord charged with running Ponzi scheme in massive multifamily mortgage fraud probe

    DOJ and SEC file multiple charges against Robert Morgan for multimillion-dollar scam
    Robert Morgan, one of the largest landlords in the country, was hit with multiple charges this week by both the DOJ and the SEC for allegedly running a Ponzi-type scheme that involves shuffling around money from investors and falsifying loan documents. The charges are the culmination of a cross-agency investigation into a massive multifamily mortgage fraud scheme that raises serious questions about GSE regulations for multifamily financing.
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  • Fintech lender Prosper to pay $3 million fine for misleading investors

    Settles SEC charges that it reported inflated returns
    Prosper, a longtime player in the personal lending space, announced plans in November to enter the mortgage arena with a digital HELOC product that promised to disrupt home equity lending. But there's a chance these plans could be put on hold. The SEC announced Friday that Prosper has agreed to pay a $3 million fine to settle charges that it misled to investors by reporting inflated returns.
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