Tuesday, January 27, 2009
Investor Information - Auction Rate Securities (ARS) Settlements by FINRA and SEC
As of the end of 2008, FINRA had announced agreements in principle with 8 firms to settle ARS violations that provided for the repurchase of approximately $2 billion in such securities from investors affected by the developments leading to multiple auction failures earlier in the year. The firms also agreed to pay several million dollars in fines. FINRA is continuing investigations of numerous other firms.
