SEC Charges Merrill Lynch with Failure to Oversee Bad Traders; Trustee Sued in NY, Trustees Win in CA
June 22, 2018
Merrill Lynch has agreed to pay more than $15 million to resolve allegations that its traders misled investors into overpaying for residential MBS. In other legal stories, a monoline insurer sued a trustee over the settlement amount in an RMBS repurchase case while another group of MBS trustees defeated a class-certification motion in California state court.