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SEC charges brokers with CMO fraud

The US Securities and Exchange Commission (SEC) has charged 10 brokers from California-based Brookstreet Securities - a now-defunct broker-dealer - with fraud for mis-representing the risks involved in collateralised mortgage obligations (CMO) to customers.

Author: Christopher Whittall

Source: Risk magazine | 29 May 2009

Categories: Investment, Penalties and censures

Topics: Securities and Exchange Commission (SEC)

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