On November 7, Royal Bank of Scotland PLC (RBS) entered into a consent decree with the Securities and Exchange Commission (SEC) agreeing to pay $153.8 million in settlement of allegations concerning RBS’s disclosures in connection with an RMBS offering.  In a Complaint filed simultaneously with the consent decree, the SEC alleged that RBS made misstatements and omissions in offering documents for the April, 2007 Soundview Home Loan Trust 2007-OPT1 (the Trust) securitization to investors.  In particular, the SEC alleged that RBS misrepresented that the loan originator (Option One Mortgage Company) generally complied with its underwriting guidelines.  RBS neither admitted nor denied the allegations.  RBS’s settlement consists of three component parts: disgorgement of $80.4 million, prejudgment interest of $25.2 million and a civil penalty of $48.2 million.  Complaint.  Consent Decree.