{"id":1414,"date":"2014-03-12T12:54:50","date_gmt":"2014-03-12T12:54:50","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/03\/jefferies_llc_settles_sec_char"},"modified":"2022-03-11T08:59:55","modified_gmt":"2022-03-11T14:59:55","slug":"jefferies-llc-settles-sec-char","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/jefferies-llc-settles-sec-char\/","title":{"rendered":"Jefferies LLC Settles SEC Charges for $25 Million"},"content":{"rendered":"

\t\t\t\tBroker-dealer and investment bank Jefferies LLC (JEF)<\/a> has consented to pay $25 million to settle Securities and Exchange Commission charges that it did not properly supervise traders at its mortgage-backed securities desk. These same staffers purportedly lied to investors about pricing. <\/p>\n

The regulator contends that Jefferies did not give its supervisors what they needed to properly oversee trading activity on the MBS desk and that these managers neglected to find out what bond traders were telling customers about pricing information in terms of what the bank paid for certain securities. This inaccurate information was misleading to investors, who were not made aware of exactly how much the firm profited from in the trading.<\/p>\n

While Jefferies’ policy makes supervisors look at electronic conversations of salespeople and traders so any misleading or false information given to customers would be detected, the SEC says that the policy was not effected in a manner that price misrepresentations were identified. The supervisory failures are said to have taken place between 2009 and 2011. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Broker-dealer and investment bank Jefferies LLC (JEF) has consented to pay $25 million to settle Securities and Exchange Commission charges that it did not properly supervise traders at its mortgage-backed securities desk. These same staffers purportedly lied to investors about pricing. The regulator contends that Jefferies did not give its supervisors what they needed to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,4040,3760,3741],"tags":[],"class_list":["post-1414","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-jefferies-group","category-sec-enforcement","category-securities-fraud"],"yoast_head":"\nJefferies LLC Settles SEC Charges for $25 Million — Investor Lawyers Blog — March 12, 2014<\/title>\n<meta name=\"description\" content=\"Broker-dealer and investment bank Jefferies LLC (JEF) has consented to pay $25 million to settle Securities and Exchange Commission charges that it did — March 12, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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