All: Enforcement Activity

State Securities Regulators Announce Settlement with Bank of America and RBC Capital Markets Corp. in Auction Rate Securities Investigations

WASHINGTON, D.C. October 8, 2008 — The North American Securities Administrators Association (NASAA) today announced that Bank of America Securities LLC, Bank of America Investment Services, Inc., RBC Capital Markets Corporation (on behalf of its affiliates including Ferris Baker Watts, Inc. and J. B. Hanauer & Co.) and state and federal securities regulators have reached […]

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State Securities Regulators Announce Settlement with Credit Suisse Securities in Auction Rate Securities Investigation

WASHINGTON, D.C. September 16, 2008 — The North American Securities Administrators Association (NASAA) today announced that a settlement in principle has been reached between Credit Suisse Securities (USA) LLC and state securities regulators, which will provide relief for the firm’s clients who have had their funds frozen in the auction rate securities (ARS) market. The […]

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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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State Securities Regulators Coordinate Ongoing Auction-Rate Securities Investigations

WASHINGTON, D.C. April 17, 2008—The North American Securities Administrators Association (NASAA) today said that several of its members have been conducting investigations involving auction-rate securities (ARS) and are coordinating their efforts to help investors who cannot access funds that their brokers placed in these complex investment products. “Given the number and nature of the complaints […]

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