ARS Arbitration Information Center

Here you will find general information regarding the Special Arbitration Procedures applicable to the ARS settlements.  There may be certain differences in the SAP’s, depending on the firm.  In this case, as soon as these differences are known, NASAA will enumerate them here along with appropriate updates to the general procedure and appropriate instructions.

Several brokerage firms have entered, or are expected to enter into, settlements with state securities regulators in cases arising from the sale by those firms of auction rate securities. Those settlements provide, among other things, that many customers of those firms are entitled to receive a refund of the purchase price of those securities from the firm. Despite receiving those refunds, some customers may believe they have incurred consequential damages as a result of their purchase and ownership of the auction rate securities. The settlements also provide for a “special arbitration procedure” which may be used by customers attempting to recover those consequential damages. This site describes those special procedures.

Summary of Special Arbitration Procedures


Citigroup
Citigroup Order of Settlement (Texas)
Missouri
New Jersey
Nebraska
Nevada

Wisconsin ( Part 1, Part 2, Part 3)

Wachovia
Wachovia Order of Settlement (Missouri)
Minnesota
Missouri (Document 2)
West Virginia
West Virginia (Document 2)
West Virginia (Document 3)
Nevada
Wisconsin (Part1, Part 2, Part 3)
Order of Settlement (Missouri)
Minnesota (Part 1, Part 2, Part 3)
Nebraska
Nevada
Wisconsin (Part 1, Part 2, Part 3)
Order of Settlement (Florida)
Nevada
West Virginia
Wisconsin (Part 1, Part 2, Part 3)
Order of Settlement (Massachusetts: Part 1, Part 2)
Nevada
Wisconsin (Part 1, Part 2, Part 3)


Order of Settlement (New Jersey)

Nevada
West Virginia
West Virginia
Washington
Wisconsin (Part 1, Part 2, Part 3, Part 4)
Wisconsin (Part 1, Part 2, Part 3)
Wisconsin
Wisconsin (Part 1, Part 2, Part 3, Part 4)

ARS, Enforcement Activity, Issues & Advocacy, Legal Activity