Law360, New York (December 22, 2011, 12:17 PM ET) -- The Financial Industry Regulatory Authority has fined Barclays Capital Inc. $3 million for allegedly making misrepresentations related to its residential subprime mortgage securitizations, FINRA announced Thursday.
The finance industry's nonprofit self-regulator said the investment banking division of Barclays Bank PLC provided inadequate supervision and inaccurate delinquency data when issuing residential subprime mortgage-backed securities, leaving investors without information necessary to assess the value of a security.
Historical delinquency rates are relevant to investors to allow them to determine whether mortgage holders are likely to default on loan...
FINRA Fines Barclays $3M For Subprime RMBS Errors
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