SEC v. Michael A. Gramins

Michael A. Gramins allegedly made misrepresentations and omitted material information to investors in order to generate additional revenue for Nomura’s RMBS desk, according to the SEC. Gramins allegedly misrepresented the bids and offers being provided to Nomura for RMBS, as well as the prices at which Nomura bought and sold RMBS, and the spreads the firm earned for intermediating trades, according to the SEC.

Summary generated from official Securities and Exchange Commission press release