|
Share Tweet What services
Apostille
Embassy Legalization
Authentication of American Academic Credentials for use Abroad
Retrieval Documents
Obtaining Documents
Preparation Documents
Authentication of Documents
Translation
Travel
Visa to any country
Visa to USA
|
02/08/2010
News / RBC to Repurchase $51 Million in Auction Rate Securities from N.J. InvestorsNEWARK - The Office of the Attorney General through its Bureau of Securities has signed a final Consent Order that requires RBC Capital Markets Corp. to complete or confirm its repurchase of auction-rate securities (ARS) from New Jersey clients to settle allegations that the firm’s securities dealers sold ARS without disclosing known risks of the ARS market.Under the terms of the settlement, RBC will repurchase all of the ARS, approximately $51 million, that it sold to New Jersey investors. Although marketed and sold to investors as safe, liquid, and cash-like investments, the ARS were actually long-term investments subject to a complex auction process that failed in early 2008, revealing illiquidity and lower interest rates than investors were promised. “The Bureau of Securities has sought to secure much needed relief for investors stuck with these unsuitable and illiquid products,” said Marc B. Minor, New Jersey Bureau of Securities chief. “State securities regulators joined forces to resolve this matter on behalf of New Jersey investors and we continue to be on the frontlines in protecting investors and their hard-earned savings.” The order also requires RBC to pay a $51,724 civil penalty to New Jersey. This amount represents the state’s pro-rata share of a settlement negotiated by a multi-state task force of state regulators formed by the North American Securities Administrators Association (NASAA). During the investigation, regulators discovered that RBC’s securities dealers failed to adequately inform customers on the risks associated with buying auction-rate securities. The investigation into RBC’s role in the marketing of auction rate securities is part of a larger state-led effort to address problems in connection with ARS investments. Early in 2008, state offices began receiving complaints from investors throughout the country. As a result, in April, 12 states, including New Jersey, formed a task force to investigate whether certain Wall Street firms had systematically misled investors when placing them in auction rate securities. The Consent Order sets forth the allegations by the BOS and the terms that were agreed to in principle in October, 2008. BOS Investigating Attorney Peter C. Cole led New Jersey’s efforts in securing this settlement and protecting Garden State investors. http://www.nj.gov/oag/newsreleases10/pr20100208a.html |
Do you need
We do Retrieval, Preparation and Legalization.
Power of attorney
Vital records
Birth certificate
Marriage Certificate
Single Status Affidavit
No Record of a Marriage
Certificate of No Marriage Record
Divorce Certificate
Divorce Decree
Death certificate
Criminal Record
Certificate of good conduct
Criminal Background Check
Foreign Driver License
Documents for transportation of the Deceased
Children's Travel Consent Letter
Evaluation of Foreign Education Credentials for US
Letter of Invitation for USA Visa
Documents for Avoiding Double Taxation
|
EducationalBesides making sure that your documents will be accepted abroad by obtaining an Apostille or Consular Legalization, we can also play an important role in helping you create, retrieve and translate your documents. Evaluation Education Invitation Letter |
Divorce CertificateBesides making sure that your documents will be accepted abroad by obtaining an Apostille Divorce Certificate Divorce Decree |
|
|