RBS To Pay $150M In Mortgage-Backed Securities Settlement

Law360, New York (November 7, 2013, 1:56 PM EST) -- A subsidiary of Royal Bank of Scotland PLC on Thursday agreed to a settlement of more than $150 million with U.S. securities regulators in a case alleging the firm misled investors about its review of home loans underlying a $2.2 billion 2007 mortgage-backed securities offering.

According to a complaint the U.S. Securities and Exchange Commission filed in federal district court in New Haven, Conn., RBS Securities Inc. made it appear to investors that it had done a full review of the mortgages in the Soundview Home...
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