Morgan Keegan Strikes $200M Deal Over MBS

Law360, New York (June 22, 2011, 2:39 PM EDT) -- Morgan Keegan & Co. Inc. agreed to a $200 million settlement Wednesday with the U.S. Securities and Exchange Commission and state regulators over claims that it overstated the value of bond funds stuffed with mortgage-backed securities, and was put on the block by its parent company.

According to the settlement reached with the SEC; the Financial Industry Regulatory Authority; and securities regulators from Alabama, Kentucky, Mississippi, Tennessee and South Carolina, Morgan Keegan unit Morgan Asset Management and two of its senior employees regularly fixed daily quotes...
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