RBS To Pay More Than $153M To Settle Federal Securities Law Violations

RBS To Pay More Than $153M To Settle Federal Securities Law Violations

NEW HAVEN, Conn. - RBS Securities Inc. will pay more than $153 million to settle claims that it misrepresented the investment quality of a $2.2 billion residential mortgage-backed security (RMB) offering it was promoting in violation of federal securities law, according to court documents filed Nov. 7 in Connecticut federal court (Securities and Exchange Commission v. RBS Securities Inc., No. 13-1643, D. Conn.).

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