• Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2008 / October / 08 / SEC Announces ARS Settlements with Bank of America and RBC Capital Markets

SEC Announces ARS Settlements with Bank of America and RBC Capital Markets

By Securities Docket on October 8, 2008, 2:07 pm

The SEC’s Division of Enforcement today announced preliminary settlements in principle with both Bank of America and RBC Capital Markets Corp. The SEC stated that the settlement with Bank of America (specifically with Banc of America Securities LLC and Banc of America Investment Services, Inc.) would provide 5,500 individual investors, small businesses, and small charities the opportunity to sell back to Bank of America up to $4.7 billion in auction rate securities they purchased before the ARS market collapsed in February 2008.

The SEC stated that the settlement with RBC would provide individual investors, small businesses, small nonprofits, charities and religious organizations the opportunity to sell back to RBC all of the auction rate securities they purchased from RBC before the ARS market collapsed in February 2008.

Read the SEC’s press release regarding Bank of America
Read the SEC’s press release regarding RBC Capital Markets

Blog Widget by LinkWithin

Posted in SEC | Tagged Settlements

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2022 Securities Docket.

Powered by WordPress and Hybrid.