SEC Settles With Ex-Nomura RMBS Trading Head

Law360 (September 10, 2018, 6:11 PM EDT) -- The U.S. Securities and Exchange Commission on Friday told a New York federal judge it had reached a settlement with a former managing director of Nomura Securities International Inc., resolving allegations that he had participated in a $7 million residential mortgage-backed securities fraud.

The agency asked the judge to grant a joint motion for final judgment against Ross Shapiro. The trader consented to the judgment, which would permanently restrain him from violating securities laws and order him to pay a $200,000 civil penalty.

Shapiro is one of three Nomura traders who were hit with criminal and civil charges in 2015 for...

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