(Bloomberg) -- Nomura Holding America Inc. and affiliates agreed to pay a $480 million penalty to resolve U.S. claims that the bank misled investors in marketing and selling mortgage-backed securities tied to the 2008 financial crisis, according to the Justice Department.
Tokyo-based Nomura is one of the final banks to settle with U.S. authorities over its handling of securities backed by some low-quality loans. Nomura falsely claimed its due diligence on the securities was “extensive” and “disciplined,” according to the U.S. attorney’s office in Brooklyn, N.Y.
Nomura’s settlement came a week after HSBC Holdings PLC agreed to pay $765 million to settle similar allegations.
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To contact the editors responsible for this story: Jeffrey D Grocott at jgrocott2@bloomberg.net, David S. Joachim
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