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9 Feb 2015, 9:46 am by Daniel Robertson
On February 2, Standard & Poor’s Ratings Services settled claims brought by the Department of Justice, 19 states and the District of Columbia related to credit ratings it issued and maintained for RMBS and CDOs before the financial crisis. [read post]
9 Feb 2015, 9:41 am by Daniel Robertson
On February 1, JP Morgan Chase & Co. settled federal securities claims brought by investors led by the Public Employees’ Retirement System of Mississippi and the New Jersey Carpenters Health Fund related to Bear Stearns’ sale of $17.58 billion in residential mortgage-backed securities. [read post]
3 Feb 2015, 5:17 pm by Sabrina I. Pacifici
  In addition to the payment of $1.375 billion, S&P has acknowledged conduct associated with its ratings of RMBS and CDOs during 2004 to 2007 in an agreed statement of facts. [read post]
2 Feb 2015, 7:16 am by Daniel Robertson
  In addition, S&P agreed to retract an allegedly untrue and misleading article that it published in 2012 and settled another claim that it failed to maintain and enforce internal controls regarding changes to its monitoring standards for certain RMBS. [read post]
2 Feb 2015, 7:01 am by Daniel Robertson
On January 15, 2015, the Federal Home Loan Bank of San Francisco (FHLB) agreed to a $459 million settlement with various banks stemming from the sales of billions of dollars of RMBS. [read post]
1 Feb 2015, 10:22 pm by Adam Levitin
In 2014, there were all of 22 private-label RMBS deals. [read post]
28 Jan 2015, 5:04 am
The settlement addresses DOJ's allegations that S&P had defrauded investors in structured financial products and resolves DOJ's and the states' 2013 lawsuit against S&P, which alleged that investors incurred substantial losses on Residential Mortgage-Backed Securities ("RMBS") and Collateralized Debt Obligations ("CDOs") as a result of inflated ratings issued by S&P. [read post]
26 Jan 2015, 1:12 pm
I am happy to pass along the Conference Report of the 9th Annual meeting of the European China Law Studies Association, held last November in Hong Kong. [read post]
26 Jan 2015, 8:54 am by Eric Carlson
Violations of the Implementing Measures are subject to civil liability:  SAIC and its local counterparts may confiscate all illegal earnings and impose fines of between one and ten times the amount of the illegal earnings, or up to RMB 500,000 (about US $80,000) if there are no illegal earnings. [read post]
26 Jan 2015, 8:28 am by Boris Volodarsky
On January 22, Fitch released its rating criteria for rating RMBS in Latin America. [read post]
25 Jan 2015, 9:53 pm by Supreme People's Court Observer
Model cases before the Interpretation was issued In the last few months, several public interest environmental cases have received a great deal of attention, including: A case decided at the end of 2014 involving by a semi-official NGO in Jiangsu Province, where the Taizhou City Environmental Protection Association (the chairman, Tian Jun, is also the head of Taizhou’s environmental protection bureau) against six chemical companies that had polluted local rivers resulting in a 16 milllion… [read post]
20 Jan 2015, 11:55 am by Steven J. Fink
The suit was initially commenced against Bear Stearns in August of 2008, and alleged that the bank misrepresented the underwriting process and the quality of the underlying loans in connection with $17.6 billion in RMBS. [read post]
14 Jan 2015, 1:37 pm by John Jascob
The investors pointed out that the ABX Index, which tracks RMBS, declined 32.8 percent in the third quarter of 2007. [read post]
14 Jan 2015, 3:58 am
This means that the purchase must be denominated in RMB and the purchase must be made from a Chinese company. [read post]
12 Jan 2015, 12:56 pm by Darren S. Teshima
Bank, and Bank of America in the United States District Court for the Southern District of New York regarding $2.4 billion in RMBS. [read post]
12 Jan 2015, 12:44 pm by Katie Lieberg Stowe
Forrest of the United States District Court for the Southern District of New York approved a $95 million settlement to end a class action brought by RMBS investors against Morgan Stanley. [read post]
12 Jan 2015, 12:43 pm by Katie Lieberg Stowe
On December 22, National Credit Union Administration sued Wells Fargo, as an RMBS trustee, in the United States District Court for the Southern District of New York. [read post]