Law360, New York (July 07, 2011, 7:48 PM ET) -- The U.S. Securities and Exchange Commission, state regulators and FINRA on June 22, 2011, announced that Morgan Keegan & Company ("Morgan Keegan") and Morgan Asset Management ("Morgan Asset") agreed to pay $200 million to settle fraud charges related to subprime mortgage-backed securities valuations in their registered funds.[1]
Two Morgan Keegan employees — a controller and a portfolio manager — also agreed to pay penalties for their alleged misconduct. The two employees were accused of causing the false valuation of the securities in five funds that Morgan...
Inside Morgan Keegan's SEC Settlement
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