This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Barclays agrees to pay $2 billion fine for fraud in sale of residential mortgage-backed securities

( March 29, 2018, 15:34 GMT | Official Statement) -- MLex Summary: Barclays has agreed to pay the United States $2 billion in civil penalities for alleged conduct relating to its underwriting and issuance of residential mortgage-backed securites between 2005 and 2007, the US Department of Justice said. Following a three-year investigation, the DOJ alleged that Barclays caused billions of dollars in losses to investors by engaging in a fraudulent scheme to sell 36 residential mortgage-backed securities deals, and misled investors about the quality of the mortgage loans backing those deals. Two former Barclays executives, Paul Menefee and John Carroll, also agreed to pay a combined sum of $2 million in civil penalties.Statement follows below:...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login