JPMorgan, Credit Suisse to pay $400 million to settle SEC case

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November 17, 2012 5:42 AM EST

JPMorgan Chase & Co and Credit Suisse Group will together pay $400 million to settle civil charges that they misled investors in residential mortgage-backed securities offerings, securities regulators said on Friday.

JPMorgan will pay $296.9 million to settle its charges while Credit Suisse will pay $120 million, the Securities and Exchange Commission said.

Both agreed to settle without admitting or denying the charges.

(Reporting By Aruna Viswanatha and Sarah N. Lynch; Editing by Gerald E. McCormick)

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Copyright 2012 Thomson Reuters UK. All rights reserved.

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