General Information about Auction Rate Securities

• Testimony Concerning The SEC’s Recent Actions With Respect to Auction Rate Securities, Before the Committee on Financial Services, U.S. House of Representatives, by Linda Chatman Thomsen, Director, Division of Enforcement (September 18, 2008)
• Auction Rate Securities:  What Happens When Auctions Fail (FINRA Investor Alert)
• FINRA Regulatory Notice 08-21:  Partial Redemption of Auction Rate Securities

SEC Press Releases and Related Documents Concerning Settlements

• Press Release 2011-136: SEC Charges Raymond James for Auction Rate Securities Sales Practices (June 29, 2011)
  • Administrative Order against Raymond James

• Press Release 2009-163: SEC Charges TD Ameritrade for Auction Rate Securities Sales Practices (July 20, 2009)
  • Administrative Order against TD Ameritrade

• Press Release 2009-127: SEC Finalizes ARS Settlements With Bank of America, RBC, and Deutsche Bank (June 3, 2009)
  • Complaint against Bank of America
  • Consent of Bank of America
  • Complaint against RBC
  • Consent of RBC
  • Complaint against Deutsche Bank
  • Consent of Deutsche Bank

• Press Release 2009-17: SEC Finalizes ARS Settlement to Provide $7 Billion in Liquidity to Wachovia Investors (February 5, 2009)
  • Complaint against Wachovia Securities LLC

• Press Release 2008-290: SEC Finalizes ARS Settlements With Citigroup And UBS, Providing Nearly $30 Billion in Liquidity to Investors (December 11, 2008)
  • Complaint against Citigroup
  • Consent of Citigroup
  • Complaint against UBS
  • Consent of UBS

• Press Release 2008-247: Bank of America Agrees in Principle to ARS Settlement (October 8, 2008)
• Press Release 2008-246: SEC Division of Enforcement Announces ARS Settlement in Principle With RBC Capital Markets Corp. (October 8, 2008)
• Press Release 2008-181:  SEC Enforcement Division Announces Preliminary Settlement With Merrill Lynch to Help Auction Rate Securities Investors (August 22, 2008)
• Press Release 2008-176:  Wachovia Agrees to Preliminary Auction Rate Securities Settlement That Would Offer Approximately $9 Billion to Investors (August 15, 2008)
• Press Release 2008-171: UBS Securities LLC and UBS Financial Services, Inc. Agree in Principle to Auction Rate Securities Settlement (August 8, 2008)
• Press Release 2008-168: Citigroup Agrees in Principle to Auction Rate Securities Settlement (August 7, 2008)

Other SEC Litigation and Administrative Proceedings

• Press Release 2008-187:  SEC Charges Two Wall Street Brokers in $1 Billion Subprime-Related Auction Rate Securities Fraud (September 3, 2008) (Securities and Exchange Commission v. Julian T. Tzolov and Eric S. Butler, Case No. 08 Civ. 7699 (SAS) (S.D.N.Y.))
• Administrative Proceeding: Release No. 33-8919:  In the Matter of First Southwest Company (May 27, 2008)
• Administrative Proceeding: Release No. 34-55712: In the Matter of Citigroup Global Markets, Inc., successor by merger to Legg Mason Wood Walker Inc. (May 7, 2007)
• Administrative Proceeding: Release No. 33-8767: In the Matter of Deutsche Bank Trust Company Americas, The Bank of New York, and Wilmington Trust Company (January 9, 2007)
• Administrative Proceeding: Release No. 33-8684: In the Matter of Bear, Stearns and Co., Inc. et al., (May 31, 2006)

No-Action Letters

• Eaton Vance Management (June 13, 2008)
• Municipal Auction Rate Securities (March 14, 2008)