Federal Regulator Sues J.P. Morgan Securities, RBS Securities For $843 Mln

Federal Regulator Sues J.P. Morgan Securities, RBS Securities For $843 Mln

  • Posted Tuesday, June 21, 2011 -
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The National Credit Union Administration or NCUA, has Monday sued securities firms J.P. Morgan Securities, LLC (JPM), and RBS Securities, Inc. (RBS, RBS.L) alleging violations of federal and state securities laws and misrepresentations in the sale of hundreds of securities to federal credit unions. The first two lawsuits seek total damages of $843 million, with more lawsuits to follow seeking total damages amounting to billions of dollars.view original article