All: 2008 Headlines

State Securities Regulators Announce Settlements with Merrill Lynch, Goldman Sachs, Deutsche Bank in Auction Rate Securities Investigations

WASHINGTON, D.C. August 21, 2008 — The North American Securities Administrators Association (NASAA) today announced that settlements in principle have been reached between Merrill Lynch & Co. Inc., Goldman Sachs Group Inc., Deutsche Bank Securities Inc, Deutsche Bank AG and state securities regulators, which will give thousands of the firms’ clients access to billions of […]

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Securities Regulators Announce Settlement With Wachovia Over Sale of Auction Rate Securities

WASHINGTON, D.C. August 15, 2008 — Karen Tyler, President of the North American Securities Administrators Association (NASAA), today announced that a settlement in principle has been reached between Wachovia Securities and state and federal securities regulators. The settlement will provide thousands of Wachovia clients with access to billions of dollars in funds that have been […]

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State Securities Regulators Announce Settlements with JP Morgan, Morgan Stanley in Auction Rate Securities Investigations

WASHINGTON, D.C. August 14, 2008 — The North American Securities Administrators Association (NASAA), Illinois Securities Department and Florida Office of Financial Regulation, along with the New York Office of the Attorney General, today announced that settlements have been reached with JP Morgan and its affiliates (including Bear Stearns & Co. Inc.) and Morgan Stanley, which […]

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Securities Regulators Announce Settlement with UBS in Auction Rate Securities Investigation

WASHINGTON, D.C. August 11, 2008 — Karen Tyler, President of the North American Securities Administrators Association (NASAA), announced today that a settlement in principle has been reached between UBS Securities LLC and UBS Financial Services, Inc. (UBS) and state and federal securities regulators.  The settlement will provide thousands of UBS clients with access to billions […]

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Securities Regulators Announce Settlement with Citigroup in Auction Rate Securities Investigation

WASHINGTON, D.C. August 7, 2008— North American Securities Administrators Association (NASAA) President Karen Tyler, Texas Securities Commissioner Denise Voigt Crawford, and New York Attorney General Andrew Cuomo, and the Securities and Exchange Commission announced today that a settlement has been reached with Citigroup, Inc., which will give thousands of Citigroup clients access to billions of […]

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NASAA Statement on FINRA Arbitration Pilot Program

WASHINGTON, D.C. July 24, 2008—The following is a statement by North American Securities Administrators Association (NASAA) President and North Dakota Securities Commissioner Karen Tyler regarding the Financial Industry Regulatory Authority (FINRA) pilot program to allow certain investors making arbitration claims to choose a panel made up of three public arbitrators instead of the current system, […]

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NASAA: Court Decision a Major Victory for Investors

WASHINGTON, D.C. July 21, 2008—The North American Securities Administrators Association (NASAA) today hailed as a major victory for investors a federal appellate court decision involving a stockbroker’s attempt to remove customer complaint information from his state-owned disciplinary record. In its July 15 decision in Karsner v. Lothian, the U.S. Court of Appeals for the District […]

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New Hampshire Gov. Lynch Signs Senior Investor Protection Legislation Into Law

New Hampshire Law Adopts Provisions Based on NASAA Model Rule on the Use of Senior Certifications and Professional Designations WASHINGTON, D.C. July 7, 2008—New Hampshire Governor John Lynch today signed into law HB 1274, making New Hampshire the first state to legislatively adopt provisions based on NASAA’s Model Rule on the Use of Senior Certifications […]

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NASAA Voices Strong Support for Casey/Kohl Legislation to Enhance Penalties for Investment Fraud Against Seniors

WASHINGTON, D.C. June 27, 2008—State securities regulators today voiced strong support for the Senior Investor Protections Enhancement Act of 2008 introduced by U.S. Senators Robert P. Casey (D-PA) and Herbert H. Kohl (D-WI) to strengthen penalties for securities law violations involving senior victims. “State securities regulators believe that every investor deserves protection, none more so […]

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NASAA Commends SEC for Advancing Equity Indexed Annuities Proposal

Tyler: “Shielding investors from the predatory sale of EIAs is one of the most important steps the SEC can take to advance the cause of Main Street investor protection.” WASHINGTON, D.C. June 25, 2008—The North American Securities Administrators (NASAA) today commended the U.S. Securities and Exchange Commission (SEC) for issuing a rule proposal related to […]

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