Let's Hope Your 401K Is Not Invested In ThisRBS Greenwich Affiliated Stock
National City To Get $7 Bln In Capital, Cuts Dividend; Posts $171 ...
RTT News, NY
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RBS arm involved in SEC inquiry
Royal Bank of Scotland has confirmed its Greenwich Capital unit is part of a Securities Exchange Commission probe into the collapse of the subprime mortgage market.The SEC has opened about three dozen inquiries, including those that involve major investment banks, according to recent published reports.
Greenwich Capital, a top issuer of mortgage-backed securities in the subprime market, is based on Steamboat Road in Greenwich. The unit was asked by the SEC to hand over some of its financial documents, but RBS officials would not comment on the probe beyond that.
"We will fully cooperate with the SEC or any regulators," said Carolyn McAdam, a spokeswoman for RBS......=========================================
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