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

WASHINGTON Sat Nov 17, 2012 12:09am IST

The entrance to JPMorgan Chase's international headquarters on Park Avenue is seen in New York October 2, 2012. REUTERS/Shannon Stapleton

The entrance to JPMorgan Chase's international headquarters on Park Avenue is seen in New York October 2, 2012.

Credit: Reuters/Shannon Stapleton

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WASHINGTON (Reuters) - JPMorgan Chase & Co (JPM.N) and Credit Suisse Group (CSGN.VX) 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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