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.
|For the full story.
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