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Jefferies to pay $25 million for failing to supervise mortgage-backed securities desk

( March 12, 2014, 15:23 GMT | Official Statement) -- MLex Summary: New York-based broker-dealer Jefferies will pay $25 million to settle criminal and civil charges that the company failed to supervise employees on its mortgage-backed securities desk who were lying to customers about pricing and misleading them about the profits being earned by the firm, the US Securities and Exchange Commission and US Attorney's office in Connecticut said Wednesday.Statement follows in full. See document below....

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