The Securities and Exchange Commission (SEC) is expected to include civil charges against at least one person involved in each collateralized debt obligations (CDOs) and other mortgage-related products probes, The Wall Street Journal reports. The regulator may also file civil charges against hedge fund managers who helped structure certain mortgage bond deals but then bet against them.
The SEC is seeking to bring charges against individuals, such as executives involved in selling the deals or outsiders who managed the assets. Financial firms being investigated by the SEC include JP Morgan Chase, Citigroup, Morgan Stanley, Bank of America’s Merrill unit and UBS.
Click here for the story from The Wall Street Journal.