Reuters: Regulatory News: Mizuho to pay $127.5 mln to settle SEC case over CDO

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Mizuho to pay $127.5 mln to settle SEC case over CDO Jul 18th 2012, 19:17 July 18 | Wed Jul 18, 2012 3:17pm EDT July 18 (Reuters) - Mizuho Financial Group Inc has agreed to pay $127.5 million to settle U.S. regulatory charges that its U.S. investment banking unit misled investors in a $1.6 billion collateralized debt obligation by obtaining false credit ratings. The U.S. Securities and Exchange Commission's settlement with the Mizuho Securities USA unit calls for a $115 million civil penalty, the disgorgement of $10 million of fees, and the payment of $2.5 million of interest. Mizuho did not admit or deny the SEC charges in agreeing to settle. The SEC said it also settled proceedings against three former Mizuho employees responsible for the Delphinus CDO 2007-1 transaction. They are Alexander Rekeda, who led the group that structured the CDO; Xavier Capdepon, who modeled the CDO for rating agencies; and Gwen Snorteland, the transaction manager responsible for structuring and closing the CDO.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions