Related Documents:
33-9368
16-Nov-2012
Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On November 16, 2012, the Commission initiated cease-and-desist administrative proceedings. The proceedings involved practices in which Credit Suisse Securities (USA) LLC and affiliated entities "engaged with respect to residential mortgage-backed securities ... it sponsored and/or underwrote." The respondents submitted a settlement offer without admitting or denying the SEC's findings. On November 16, 2012, the Commission accepted the respondents' offer of settlement.
34-68349
04-Dec-2012
Administrative Proceeding
Order Appointing Tax Administrator
On December 4, 2012 the Commission ordered the appointment of a tax administrator for the Qualified Settlement Fund.
34-68593
07-Jan-2013
Administrative Proceeding
Extension Order
On January 7, 2013 the Commission granted the Division of Enforcement's request for "an extension of time, until September 6, 2013, to submit a Proposed Plan of Distribution under Rule 1101(a) of the Commission's Rules on Fair Fund and Disgorgement Plans."
34-70695
16-Oct-2013
Administrative Proceeding
Extension Order
On October 16, 2013, the SEC granted the Division of Enforcement request for an extension of time until July 7, 2014, to submit a Proposed Plan of Distribution.
34-71300
14-Jan-2014
Administrative Proceeding
Order Appointing Fund Plan Administrator and Setting Administrator Bond Amount
On January 14, 2014, the SEC published an Order Appointing Fund Plan Administrator and Setting Administrator Bond Amount. Under the Order, Gilardi and Co., LLC, a member of the Commission's approved pool of administrators, was appointed as the fund plan administrator.
34-72850
14-Aug-2014
Administrative Proceeding
Notice of Proposed Plan of Distribution (Bulk Settlements Practice) and Opportunity for Comment
On August 14, 2014, SEC issued an administrative proceeding regarding a "proposed plan of distribution (bulk settlements practice) and opportunity for comment."
Proposed Plan of Distribution Bulk Settlement Practice
On August 14, 2014, the SEC issued a Proposed Plan of Distribution Bulk Settlement Practice.
34-72851
14-Aug-2014
Administrative Proceeding
Notice of Proposed Plan of Distribution (First Payment Default Practice) and Opportunity for Comment
On August 14, 2014, SEC issued an administrative proceeding regarding a "proposed plan of distribution (First Payment Default Practice) and opportunity for comment."
Proposed Plan of Distribution First Payment Default Practice
On August 14, 2014, the SEC published a Proposed Plan of Distribution First Payment Default Practice concerning Credit Suisse Securities (USA) LLC and Asset Backed Securities Corporation.
34-73890
19-Dec-2014
Administrative Proceeding
Extension Order
On December 19, 2014, the Commission approved the Division of Enforcement's request to extend the time for entering an order approving or disapproving the proposed plans of distribution until February 27, 2015. The Commission received comments on the proposed plans of distribution. According to the SEC, "the Division states that further evaluation, analysis and consultation with other offices are required to properly address the comments."
34-74397
27-Feb-2015
Administrative Proceeding
Extension Order
On February 27, 2015, the SEC issued an Extension Order, which extended the time for entry of an order approving or disapproving the proposed plans of distribution.
34-74806
24-Apr-2015
Administrative Proceeding
Extension Order
On April 24, 2015, the SEC approved a request for a third extension of time until June 6, 2015 for entry of an order approving or disapproving the proposed plans of distribution that were noticed for public comment on August 14, 2014. In its request, the Division of Enforcement stated that additional time was needed to address comments.
34-75118
05-Jun-2015
Administrative Proceeding
Extension Order
On June 5, 2015, the SEC granted the Division of Enforcement's request for an extension of time until September 8, 2015 for entry of an order approving or disapproving the proposed plans of distribution that were noticed for public comment on August 14, 2014. This order derives from a settled administrative proceeding against respondents according to which "Credit Suisse and affiliated entities made omissions of material facts and failed to comply with offering documents in transaction for which respondents sponsored and/or underwrote residential mortgage backed securities."
Plan of Distribution Bulk Settlement Practice
On September 10, 2015, the SEC issued a Plan of Distribution for payments made by defendants. Previously, on November 16, 2012, the SEC instituted settled cease-and-desist proceedings against the respondents that create two separate fair funds. The September 10, 2015 Plan of Distribution referred solely to the fair fund relating to the Plan for Bulk Settlement Practice.
34-75878
10-Sep-2015
Administrative Proceeding
Order Establishing Fair Fund and Approving Plan of Distribution Bulk Settlement Practice
On September 10, 2015, the SEC issued an order establishing a Bulk Settlement Fair Fund to compensate certain investors. In addition to $68,747,769 in disgorgement and prejudgment interest, the SEC added $33 million penalty also collected for the Bulk Settlement Practice conduct identified in a November 16, 2012 order instituting settled administrative proceedings against defendants.
Plan of Distribution First Payment Default Practice
On September 10, 2015, the SEC issued a plan of distribution setting forth methods and procedures for distributing the Fair Fund previously established under a November 16, 2012 order instituting settled administrative proceedings against defendants.
34-75877
10-Sep-2015
Administrative Proceeding
Order Establishing Fair Fund and Approving Plan of Distribution First Payment Default Practice
On September 10, 2015, the SEC established a fair fund and approved a plan of distribution to compensate a group of investors harmed by the first payment default practice ("FDP Practice") for which respondents were found liable in a November 16, 2012 order instituting a settled administrative proceeding.
Notice of Name Change of Appointed Tax Administrator
On June 30, 2017, the SEC announced a Name Change of Appointed Tax Administrator, and amended the Omnibus Order, beginning June 2017 and for calendar year 2018, to replace all references to Damasco with "Miller Kaplan Arase LLP which acquired Damasco & Associates LLP" in order to reflect Damasco's name change.
34-81703
25-Sep-2017
Administrative Proceeding
Order Directing Disbursement of the Bulk Settlement Practice Fair Fund
According to the SEC: "it is hereby ORDERED, that Commission staff shall transfer $102,110,626.86 from the Bulk Settlement Fair Fund to Huntington National Bank, and the Fund Administrator shall distribute such monies to Eligible Claimants as provided for in the Bulk Settlement Plan."
34-81702
25-Sep-2017
Administrative Proceeding
Order Directing Disbursement of the First Payment Default Practice Fair Fund
According to the SEC: "it is hereby ORDERED, that Commission staff shall transfer $18,316,278.90 from the FPD Fair Fund to Huntington National Bank, and the Fund Administrator shall distribute such monies to Eligible Claimants as provided for in the FPD Plan."
34-96991
27-Feb-2023
Administrative Proceeding
Order Authorizing the Transfer to the U.S. Treasury of the Remaining Funds and Any Funds Returned to the Bulk Settlement Fair Fund In the Future, Discharging the Fund Administrator, Canceling the Administrator's Bond, and Terminating the Bulk Settlement Fair Fund
The Commission stated: "The Commission staff has confirmed that the Fund Administrator has completed the
distribution process in accordance with the Commission's orders, that all taxes and fees have
been paid, and that all monies remaining in the Bulk Settlement Fair Fund have been received by
the Commission."
34-96992
27-Feb-2023
Administrative Proceeding
Order Authorizing the Transfer to the U.S. Treasury of the Remaining Funds and Any Funds Returned to the FPD Fair Fund In the Future, Discharging the Fund Administrator, Canceling the Administrator's Bond, and Terminating the FPD Fair Fund
The Commission stated: "The Commission staff has confirmed that the Fund Administrator has completed the
distribution process in accordance with the Commission's orders, that all taxes and fees have
been paid, and that all monies remaining in the FPD Fair Fund have been received by the
Commission."
