WSJ: In charges filed by the Securities and Exchange Commission, the firm is accused of telling fund investors the assets were “diversified” when they were actually concentrated in money-losing subprime loans.
The $313 million total includes a $50 million fine, which including previous payouts totaling $350 million the company paid via private lawsuits brings its total debts to $663 million.
With the SEC enforcement chief quoted as saying that possible credit crisis violations are a “high priority,” this won’t be the last of such settlements.
Read more at the WSJ.
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