Sep 12, 2014/Bloomberg HSBC Holdings Plc (HSBA) will pay $550 million to resolve accusations of misconduct in its handling of mortgage securities sold to taxpayers before the financial crisis. The U.S. unit of the London-based lender, HSBC North America Holdings Inc., reached the deal to end Federal Housing Finance Agency […]
Frauds & Scandals
Morgan Stanley to pay $95 million in U.S. mortgage-debt settlement
Morgan Stanley (MS.N) has agreed to pay $95 million to resolve a lawsuit accusing the Wall Street bank of misleading investors in mortgage-backed securities in the run up to the 2008 financial crisis. The settlement, disclosed in court papers filed Monday in New York federal court, follows years of litigation […]
FRC Accuses SEC of Non-Remittance of N21.85 Billion
By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Fiscal Responsibility Commission (FRC) on Monday accused Nigeria’s Capital Market regulator, the Securities and Exchange Commission (SEC) over non-remittance of N21.85 billion of its operating surpluses to the consolidated revenue fund. With this action, the FRC says SEC has flouted the FRC Act, 2007 […]