BRIEF-SEC settles with JPMorgan, Credit Suisse for more than $400 mln over mortgage securities

Fri Nov 16, 2012 1:23pm EST

Nov 16 (Reuters) - * Jpmorganchase & co to pay $222.4 million in settlement with U.S.

Securities and Exchange Commission -- court records * JPMorgan does not admit or deny allegations in SEC complaint -- court records * SEC complaint alleges securities law violations over offerings of residential

mortgage-backed securities by JPMorgan, Bear Stearns * SEC says bear had undisclosed practice of negotiating cash settlements with

loan originators -- court records * SEC also alleged violations tied to inclusion of delinquent loans in a $1.8

billion JPMorgan offering collateralized by loans purchased from wmc mortgage

corp * SEC says JPMorgan agrees to pay total $296.9 million to settle SEC charges --

press statement * SEC also says Credit Suisse Group AG agrees to pay $120 million to

resolve allegations of misleading investors in rmbs offerings * SEC says Credit Suisse misled investors in 75 rmbs transactions through a

"bulk settlement" practice * SEC says Credit Suisse also made misleading statements about "first payment

default" provision in two rmbs offerings * SEC says Credit Suisse also did not admit or deny allegations

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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