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A company that previously helped guide Roane County on financial matters will be forking over millions of dollars to resolve its legal woes.
Last week the U.S. Securities and Exchange Commission announced that Morgan Keegan & Co. and Morgan Asset Management agreed to pay $200 million to settle fraud charges related to subprime mortgage-backed securities.
In April 2010 the SEC’s Division of Enforcement alleged that Morgan Keegan failed to employ reasonable procedures to internally price the portfolio securities in five funds managed by Morgan Asset.
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