DOJ announces Nomura agrees to pay $35M penalty

Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that Nomura Securities International, a U.S.-based broker-dealer subsidiary of Japanese financial services firm Nomura Holdings, and the U.S. Attorney’s Office have entered into a non-prosecution agreement relating to NSI’s fraudulent trading of Residential Mortgage Backed Securities, or “RMBS.” As part of this agreement, NSI will pay a monetary penalty of $35M and pay restitution to victim customers, which include firms affiliated with recipients of federal bailout funds through the Troubled Asset Relief Program and firms investing as fiduciaries on behalf of pension funds, charitable and educational endowments, insurance companies, and others.