Ex-IndyMac CEO Settles Final Securities Claim With SEC

Law360, New York (October 1, 2012, 8:42 PM EDT) -- The U.S. Securities and Exchange Commission said Friday that it had reached a settlement with the former head of IndyMac Bancorp Inc. over an allegation that he failed to properly disclose certain information to investors about the capital position of the since-collapsed mortgage lender.

A California federal judge signed off on the deal with Michael W. Perry, the former CEO and chairman of the board of IndyMac, which permanently bars him from violating certain fraudulent interstate transaction provisions of the Securities Act of 1933 and mandates...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.