{"id":6015,"date":"2016-08-29T00:00:00","date_gmt":"2016-08-29T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2016\/08\/securities_news_exfannie_mae_c"},"modified":"2022-05-18T15:38:25","modified_gmt":"2022-05-18T20:38:25","slug":"securities-news-exfannie-mae-c","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-news-exfannie-mae-c\/","title":{"rendered":"Securities News: Ex-Fannie Mae CEO Settles Mortgage Fraud Case, WL Ross to Pay Back $11.8M to its Funds, SEC Chastises Bank of America For Not Explaining COO\u2019s $15.5M Compensation, and Pension Returns Drop"},"content":{"rendered":"

Former Fannie Mae CEO Settles SEC Charges for $100K<\/strong>
\nDaniel Mudd has agreed to pay $100K to settle Securities and Exchange Commission charges accusing the ex-Fannie Mae CEO of misleading investors about the degree to which the mortgage company was exposed to subprime loans leading up to the 2008 economic crisis. The regulator had filed its civil case against Mudd and two other Fannie Mae executives in 2011. The latter two settled with the Commission last year.<\/p>\n

Mudd maintains he did nothing wrong.<\/p>\n

WL Ross Resolves Fee-Allocation Disclosure Charges<\/strong>
\nWL Ross & Co. will reimburse specific WL Ross funds about $11.8M to resolve SEC charges related to its fee allocation practices and disclosures. The firm will also pay a $2.3M civil penalty.<\/p>\n

According to the SEC, WL Ross was given transaction fees by portfolio companies. This lowered the management fees that funds had to pay the firm. The regulator points to WL Ross\u2019s limited partnership agreements that were unclear regarding fee offsets when multiple funds and other co-investors share ownership.<\/p>\n

 <\/p>\n

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

Former Fannie Mae CEO Settles SEC Charges for $100K Daniel Mudd has agreed to pay $100K to settle Securities and Exchange Commission charges accusing the ex-Fannie Mae CEO of misleading investors about the degree to which the mortgage company was exposed to subprime loans leading up to the 2008 economic crisis. The regulator had filed […]<\/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":[3751,3752,4001,3957],"tags":[2516,3650],"class_list":["post-6015","post","type-post","status-publish","format-standard","hentry","category-bank-of-america","category-financial-firms","category-mortgage-fraud","category-pension-funds","tag-fannie-mae","tag-wl-ross"],"yoast_head":"\nSecurities News: Ex-Fannie Mae CEO Settles Mortgage Fraud Case, WL Ross to Pay Back $11.8M to its Funds, SEC Chastises Bank of America For Not Explaining COO\u2019s $15.5M Compensation, and Pension Returns Drop — Investor Lawyers Blog — August 29, 2016<\/title>\n<meta name=\"description\" content=\"Former Fannie Mae CEO Settles SEC Charges for $100K Daniel Mudd has agreed to pay $100K to settle Securities and Exchange Commission charges accusing the — 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