Real Estate Fund Shuttered Over Alleged $630M Fraud New Jersey state regulators have shut down Secaucus, N.J.-based National Realty Investment Advisors for allegedly fraudulently selling $630 million of securities to at least 1,800 investors nationwide. So reports NJBiz.

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Morningstar to Pay $1M Over Mortgage-Backed Securities Ratings

Investment research company Morningstar has inked a preliminary $1.15 million settlement with the SEC relating to its rating of commercial mortgage-backed securities. So reports Reuters.

morningstar 150x150In a 2021 complaint filed in the U.S. District Court for the Southern District of New York, the SEC claimed that Morningstar’s former credit rating unit had broken securities laws by allowing analysts to tweak credit rating models for roughly $30 billion of mortgage securities, reducing investor returns.

Morningstar said in a quarterly report that it reached the settlement, which requires SEC internal approval and a judicial green-light, on April 12. It did not admit wrongdoing.

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