Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, April 30, 2008

FINRA Issues Notice on Partial Redemptions of Auction Rate Securities

FINRA issued a Notice to Members regarding partial redemptions of auction rate securities.  In response to current market conditions, some issuers are offering partial redemptions of auction rate securities. This Notice reminds firms that when allocating partial redemptions of auction rate securities among their customers, they must adopt procedures that are reasonably designed to treat customers fairly and impartially, and must put their customers’ interests ahead of their own.

http://lawprofessors.typepad.com/securities/2008/04/finra-issues-no.html

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