• Managing the Risks and Costs of E-Discovery in Regulatory Investigations
  • December 5, 2011 | Authors: Therese Craparo; Anthony J. Diana
  • Law Firm: Mayer Brown LLP - New York Office
  • A financial institution is being investigated by the Securities and Exchange Commission (SEC) in connection with the institution’s role as trustee in certain residential mortgage-backed securitization (RMBS) transactions. The financial institution receives several subpoenas from the SEC seeking detailed information about every RMBS transaction in which the financial institution was involved. The financial institution is concerned about the burden of responding to the SEC subpoenas, but is also concerned about appearing uncooperative and inviting even more scrutiny from the SEC.