The Securities and Exchange Commission today charged investment management company Oppenheimer Funds' sales and distribution arm for misleading investors about the extent of the exposure of two of its mutual funds to CMBS in the midst of the credit crisis in late 2008.

OppenheimerFunds Inc agreed to pay the $35.4 million fine to settle the charges against it.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.