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Financial services firm Stifel Nicolaus & Co. will complete the buyback of auction-rate securities from individual investors six months early under a settlement reached Monday with Missouri and other states.
New York Attorney General Andrew Cuomo filed a lawsuit Monday against the brokerage unit of Charles Schwab Corp., claiming the firm misled customers about the safety of auction-rate securities.
Retail brokerage firm TD Ameritrade Inc. agreed on Monday to repurchase $456 million in auction-rate securities from investors as part of a settlement with the New York Attorney General's office and Securities and Exchange Commission.
Bank of America Corp. said Wednesday it will buy back about $4.5 billion worth of auction-rate securities held by roughly 5,500 customers nationwide as part of a settlement agreement with Massachusetts regulators.
Massachusetts' top securities regulator is asking Fidelity Investments to buy back auction rate securities it sold to customers.
New York Attorney General Andrew Cuomo says he will send a letter to Merrill Lynch & Co. notifying the investment bank it will commence a legal action against it as part of wide-ranging investigation into the collapse of the auction-rate securities market.
New York Attorney General Andrew Cuomo said Friday he sent a letter to Merrill Lynch & Co. notifying the investment bank that his office will file suit against it imminently as part of an investigation into the collapse of the auction-rate securities market.
Wachovia Securities Under Microscope by State RegulatorsSecurities regulators from six U.S. states mounted a surprise inspection Thursday of the headquarters of Wachovia Corp's (WB.N: Quote, Profile, Research, Stock Buzz) brokerage affiliate, as part of a probe into the firm's sales of auction-rate debt.
Municipal Market `Fire in the Disco' Burns Borrowers- Bloomberg.com ExclusiveJuly 3 (Bloomberg) -- MBIA Inc. and Ambac Financial Group Inc. lost their AAA credit ratings. The biggest hospital in Sarasota, Florida, is paying the price.
A Crisis of FaithPeople no longer trust assurances that fancy financial instruments will function the way they're supposed to — after all, they know what happened to people who thought their subprime-backed securities were safe, AAA-rated investments.
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