The Securities and Exchange Commission is racing to file chargesrelated to the financial crisis before a five-year statute oflimitations runs out, the Wall Street Journal reports. Itis expected to file civil charges against those involved inDelphinus CDO 2007-1, a $1.6 billion mortgage-bond deal, includingMizuho Financial Group, the Japanese bank that underwrote and soldit.
Since the deal was completed July 19, 2007, the SEC may need tofile charges in the next week, though a federal appeals court ruledin a case last year that the five years begins when the wrongdoingshould have been discovered, not when it happened.
A criminal investigation into Delphinus is already in-process,though no charges have been filed.
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