Jefferies Strikes $25M Deal To End RMBS Probes

Law360, New York (January 28, 2014, 2:26 PM EST) -- Jefferies Group LLC has agreed to pay $25 million to resolve civil and criminal investigations into its mortgage-backed securities business stemming from the fraud indictment of a former trader, the company said Tuesday.

The investment bank said in a regulatory filing that it had reached a settlement agreement in principle with the U.S. Securities and Exchange Commission, as well as a nonprosecution agreement in principle with the U.S. attorney for the District of Connecticut. The SEC deal still must be approved by the agency's commissioners, Jefferies...
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