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SEC Action Regarding Fixed Income Pricing

fixed income pricing

In May 2018, the Securities and Exchange Commission (“SEC”) brought a case against Premium Point Investments LP (“PPI”) whereby PPI engaged in a fraudulent scheme to inflate the value of fixed income securities (PPI invested in RMBS, Subprime RMBS, and IOs).  Among other violations PPI obtained inflated price quotes on...

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A Dark Desert Communications Highway

2210

Ask people for a line from the Eagles song “Hotel California” and you can expect, “You can check out any time you like, but you can never leave.”  The famed verse comes 4:15 into a 6:30 song (an eternity by today’s standards), it is the last of the lyrics, and...

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Compliance Pitfalls with Fixed Income Odd Lot Securities

Compliance Pitfalls

Back in December 2016 the Securities and Exchange Commission (“SEC”) brought a case against PIMCO whereby PIMCO used odd lot securities in a newly launched fixed income fund. At the time, PIMCO agreed to be censured and consented to the SEC’s order without admitting or denying the findings that the...

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