JPMorgan, Credit Suisse to pay $400 mln to settle SEC case

WASHINGTON Fri Nov 16, 2012 1:30pm EST

WASHINGTON Nov 16 (Reuters) - JPMorgan Chase & Co and Credit Suisse Group will together pay $400 million to settle civil charges that they misled investors in residential mortgage-backed securities offerings, securities regulators said on Friday.

JPMorgan will pay $296.9 million to settle its charges while Credit Suisse will pay $120 million, the Securities and Exchange Commission said.

Both agreed to settle without admitting or denying the charges.