July 15, 2019

Nomura Securities, Inc. agreed to provide $25 million to reimburse customers that purchased mortgage-backed securities from Nomura.  The SEC orders find that Nomura traders made false and misleading statements to customers, including about the price at which Nomura bought securities, the amount of profit Nomura would receive on the potential trade, and the current owner of the security.  The SEC furhter alleged that Nomura failed to reasonably supervise its traders.  Nomura, which cooperated in the investigation, will also pay $1.5 million in penalties.  Two individual traders were previously charged by the SEC.  SEC

Tagged in: Financial and Investment Fraud, Misrepresentations, Securities Fraud,