A former Nomura Securities bond trader must face U.S. Securities and Exchange Commission claims that he committed securities fraud by misleading customers about the prices of mortgage-backed bonds he sold, a Manhattan federal judge ruled.
In a decision on Monday, U.S. District Judge Richard Berman said the SEC adequately alleged that former trader Tyler Peters in Manhattan overstated what Nomura paid for its bonds so that he could negotiate higher prices when selling them to customers.
To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2xHwQQn