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Registered Rep.
December 11, 2008 |
SEC Finalizes $30 Billion ARS Settlement With Citi And UBS The $30 billion settlement is the largest in SEC history and restores liquidity to ARS investors at par value of their holdings.   |
Registered Rep.
July 20, 2009
David A. Geracioti |
The Auction Rate Securities Mess Still Lives This time it was TD Ameritrade, without admitting or denying guilt, who settled with the SEC "for making inaccurate statements when selling auction rate securities (ARS) to customers." |
Investment Advisor
April 2009
James J. Green |
B/D Briefing: Calm Before the Storm? A new report found that the average securities class action settlement was halved in 2008, but the authors of Securities Class Action Settlements: 2008 Review and Analysis, caution that the reported decrease doesn't constitute a trend. |
Registered Rep.
September 10, 2008 |
Bank of America to Buy Its ARs Back The nation's second-largest bank by assets settled an investigation by Massachusetts regulators, agreeing to buy back $4.5 billion worth of the securities. |
Registered Rep.
June 3, 2009
David Geracioti |
ARS Games -- SEC Blames Firms, Settles with BAC, RBC and DEUTSCHE When the auction rate securities market froze up in February 2008, angry clients blamed their financial advisors. |
Registered Rep.
March 28, 2008
David A. Geracioti |
More Trouble In Auction-Rate Securities Land The State of Massachusetts Secretary of State is investigating the sales practices of auction-rate securities, to learn how these securities are presented to individual clients in the state. |
Registered Rep.
June 29, 2011
Kristen French |
Raymond James Hit With $300 million ARS Settlement; Pay Back For All ARS Clients The company has agreed to a multi-state settlement that will require the firm to buy back $300 million in auction rate securities it sold to clients prior to the collapse of the ARS market in February of 2008. |
CFO
July 15, 2009
Vincent Ryan |
Buyer's Remorse Treasury departments are still paying a price for auction-rate securities. |
The Motley Fool
April 8, 2008
Rich Smith |
Psst. Buddy. Wanna Buy a Bond? Auction-rate securities should make investors feel anything but secure. |
Registered Rep.
November 8, 2011
Jerry Gleeson |
Auction Rate Revenge For tens of thousands of investors who were trapped in the auction rate securities debacle that started in 2008, finances are getting back to normal. |
Registered Rep.
May 1, 2008
David Geracioti |
The Auction-Rate Mess And You Many retail investors have recently learned the hard way that auction-rate securities aren't as safe as they thought. |
Financial Planning
August 1, 2008
Andrew Ackerman |
In First, Mass. Sues UBS In the first state-level lawsuit against an investment firm over auction-rate securities, Massachusetts has filed securities fraud charges against UBS for selling retail investors auction-rate paper as "liquid, safe, money-market" instruments even though the defendants knew it was not. |
Registered Rep.
October 8, 2008 |
Bank of America Reaches Second Settlement To Buy Back ARS The agreement closely mirrors the firm's earlier settlement with the Massachusetts Securities Division that was announced in September, 2008. |
The Motley Fool
December 23, 2009
Robert Steyer |
The Daily Walk of Shame: Auction Rate Securities Auction rate securities were promoted as being as safe as CDs, but when the ARS soured in early 2008 and customers wanted their money back, promoters said the accounts were frozen. |
The Motley Fool
August 20, 2009
Tim Beyers |
Should Your Broker Pay for Your Losses? When New York Attorney General Andrew Cuomo on Monday sued Charles Schwab for allegedly misrepresenting the risks inherent with auction-rate securities, he sent a message: Take care to warn investors early and often, or suffer the consequences. Is this a good idea? |
On Wall Street
January 1, 2010
Alan J. Foxman |
Blamed for ARS He Didn't Sell Misrepresenting auction-rate securities... BrokerCheck public disclosure system... |
Registered Rep.
August 7, 2008
John Churchill |
Citi Settles With SEC and Cuomo Over ARS Failure The firm has agreed to buy back auction rate securities sold to institutional and retail investors nationwide who've been stuck with the illiquid investment vehicles since February 12, 2008. |
Investment Advisor
May 2010
Melanie Waddell |
Settlements On Rise The total value and number of securities class action settlements increased in 2009 to $3.8 billion. |
Financial Planning
July 1, 2006
Lynn Hume |
TBMA Launches Bond Indexes The Bond Market Association published the first of a weekly series of eight indexes covering different kinds of auction-rate securities. The indexes are designed to give issuers and investors benchmarks to evaluate the rates they are getting on securities sold through the auction process. |
Wall Street & Technology
May 19, 2008
Ivy Schmerken |
A Freeze in Auction-Rate Securities Opens a Door for the Restricted Securities Trading Network In the wake of the credit crisis, Restricted Stock Partners' Restricted Securities Trading Network, which was designed to trade restricted stocks, is rescuing investors trapped in auction-rate securities. |
Registered Rep.
August 1, 2008 |
Correction The correction of a quote regarding information gathered from brokerage clients invested in auction-rate securities. |
The Motley Fool
June 19, 2008
Rich Duprey |
Finally, Money for Auction-Rate Securities A new product may finally save investors stuck with frozen auction-rate securities. |
Registered Rep.
May 1, 2004 |
Cutting the Pace of Cost-Cutting New numbers from the Securities Industry Association suggest that cost-reduction efforts are easing. |
Financial Planning
July 1, 2011
Donna Mitchell |
Hot Topics FINRA steps in... $80 million settlement of two class-action suits by Securities America... Whistleblower payday... |
Registered Rep.
September 3, 2008
John Churchill |
Brokers Charged In Fraudulently Selling $1bn Of ARS To Retail Clients In the first case of its kind, the SEC announced today that it has charged two individual financial advisors with fraud related to the sale of more than $1 billion in auction-rate securities. |
Wall Street & Technology
July 1, 2005
Maria Santos |
Fast Facts According to the Securities Industry Association's 2004 Investor Survey, nine out of 10 investors are "very" or "somewhat" satisfied with the service provided by their investment professional. |
Wall Street & Technology
January 20, 2008
Cory Levine |
Fixed-Income Products Fail to Go Fully Electronic New research reveals that not all types of fixed income securities are experiencing rapid electronification. |
The Motley Fool
April 18, 2008
Rich Duprey |
Auction Rate Agony Investors get frozen out of their money as auction rate securities shrivel. |
Registered Rep.
June 9, 2008 |
Credit Downgrades, More Write-Downs And The ARS Market Credit downgrades to MBIA and AMBAC Financial Group, the world's largest bond insurers, will lead to more write-downs at Citigroup, Merrill Lynch and UBS, according to a new research report. |
Registered Rep.
January 1, 2006
Kristen French |
Help Wanted Securities Industry employment topped the 800,000 mark in November for the first time since February 2002. |
The Motley Fool
August 11, 2008
Rich Duprey |
The Auction-Rate Thaw Turns to a Flood Settlements by big investment banks may finally inundate the frozen market with cash. |
The Motley Fool
March 7, 2008
Dan Caplinger |
Auction-Rate Anxiety The credit crisis hits leveraged mutual fund shareholders. |
Registered Rep.
December 10, 2003
David A. Gaffen |
Securities Revenues Fall in Third Quarter Securities firms showed profits of $3.0 billion in the third quarter of 2003, a 45 percent decline from the second quarter, according to the Securities Industry Association. A significant drop in trading revenue was responsible for the profit hit. |
Financial Advisor
September 2009
Gail Liberman |
How Liquid Are Client Mutual Funds? In a falling market, a fund's securities that appear to be liquid suddenly may have no market. |
On Wall Street
July 1, 2012
Jonathan Hemmerdinger |
MSRB Expands Label of Sophisticated Muni Bond Investor Broker-dealers will not have to make the same disclosures to wealthier, more sophisticated individual investors that they do to other investors under a revised Municipal Securities Rulemaking Board interpretative notice approved recently by the Securities and Exchange Commission. |
Investment Advisor
January 2009
Kara P. Stapleton |
New Year, Same Issues? It's no secret that the securities and investments industry in 2009 will be shaped by the ramifications of 2008's events. |
Financial Planning
December 1, 2008
Andrew Ackerman |
DOE Supports Loans The U.S. Department of Education plans to provide liquidity support to the student loan market. |
Registered Rep.
October 1, 2004
Will Leitch |
Bank Shots For the first time in a year-and-a-half, quarter-over-quarter revenue at bank-owned broker/dealers dropped, by 18 percent, according to a Bank Insurance & Securities Association's (BISA) report on the second quarter of 2004. |
Investment Advisor
April 2010 |
B/D News Licensing for insurers and brokers... scamming Madoff victims... NASAA's settlement with UBS... |
Wall Street & Technology
March 19, 2007 |
A Few Common Clearing Service Providers The DTC is a member of the U.S. Federal Reserve System... The Fedwire Funds Service provides a real-time gross settlement system... The Fedwire Securities Service consists of a safekeeping function... |
Registered Rep.
June 15, 2004
John Churchill |
Wall Street's Profits, Jobs, Compensation Are On the Rise Wall Street had its third best year ever in 2003, and 2004 is shaping up to be at least as good, according to the Securities Industry Association. |
Registered Rep.
September 29, 2008 |
Wachovia, The Bank, Saved by Citi; What Will Happen To Wachovia Securities? Firm Says The AGE Integration To Continue Unaffected Citigroup apparently thinks its got enough financial advisors: Citi declined to buy the retail brokerage business -- Wachovia Securities (and A.G. Edwards) -- and the asset management unit (Evergreen). |
Investment Advisor
October 2006
Savita Iyer |
Seeking Liquidity Is the life settlement business ready to take off? It depends on whether consumers are willing to accept the fact that life insurance policies can be used for purposes other than what they were originally purchased for. |
Financial Advisor
September 2011
Evan Simonoff |
Lessons For Everyone The saga of the last few months provides lessons for all financial advisors wrestling with the problem of finding ways to generate retirement income in a world of near-zero interest rates. |
Registered Rep.
December 19, 2011
Alan Lavine |
Reps Face Insurance Challenges in 2012 Financial advisors are increasingly concerned about the financial strength of the insurance companies whose products they sell. |
Registered Rep.
September 21, 2007
Halah Touryalai |
Banks Officially Welcomed into the Brokerage World Under New SEC Rule It only took eight years, but the SEC and the Board of Governors of the Federal Reserve System passed final rules defining how banks can act as securities brokers. |
Financial Advisor
August 2008
Gail Liberman |
Turmoil Brings New Business Independent advisors are signing up new clients who are uneasy about the stock market and unhappy with their money managers. |
Registered Rep.
August 17, 2011 |
Ladenburg Thalmann to Buy Securities America Ladenburg Thalmann Financial Services Inc. has agreed to buy Securities America Financial Corp., the troubled independent broker/dealer, from Ameriprise Financial Inc. for at least $150 million in cash. |
InternetNews
May 17, 2004 |
Securities Industry IT Spend to Hit $71.5 Billion While double digit increases are long gone, the Tower Group finds North American securities industry IT spending on the rise. |
On Wall Street
January 1, 2011
Alan J. Foxman |
Keeping Current Investment advisors write in for some advice concerning state and federal regulations. |
