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.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.