Macquarie investment adviser to pay $79.8 million to settle SEC charges, regulator says
NEW YORK, Sept 19 (Reuters) -Macquarie Investment Management Business Trust has agreed to pay $79.8 million to settle charges in connection with overvaluing collateralized mortgage obligations (CMO) held in advisory accounts, the U.S. Securities and Exchange Commission said.
The regulator found the registered investment adviser over-valued about 4,900 largely illiquid CMOs in 20 advisory accounts, including 11 retail funds and also executed hundreds of cross trades that favored certain clients over others.
Reporting by Chris Prentice
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