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Broker charged over mispricing

Category: ABS CLOs CMBS


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Broker charged over mispricing

The US SEC has charged New York-based broker-dealer AOC Securities and its former ceo Ronaldo Gonzalez with failing to supervise AOC broker Frank Dinucci, who provided inflated price quotes to Premium Point Investments (PPI). The orders find that PPI traders dictated to Dinucci the prices at which he should value certain MBS in PPI portfolios, in exchange for the PPI traders sending securities trades to AOC.

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