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Nomura’s Ex-Head of Mortgage Bond Trading Agrees to Industry Bar (1)

Oct. 10, 2018, 7:16 PM

Nomura Holdings Inc.’s former head trader of residential mortgage-backed securities was barred from the financial industry as part of a settlement with U.S. regulators over allegations that he misled clients about the prices he paid for bonds.

Ross Shapiro, who was put on leave in 2014, has the right to reapply for a position at a securities firm in two years, according to an Oct. 10 order from the Securities and Exchange Commission. He didn’t admit or deny the agency’s allegations.

An attorney for Shapiro didn’t immediately respond to a request for comment.

Shapiro was among a number of traders ...