Monday, November 10, 2008
NASAA reminded ARS investors of their redemption opportunities, which were reached as part of the settlements between securities regulators and several prominent Wall Street firms, and urged investors to contact the firms from which they originally purchased their ARS.
Some firms have established ARS hotlines. Those firms and their ARS hotlines are: Bank of America (866-638-4183), Citi (866-720-4802), Deutsche Bank (866-926-1437), Goldman Sachs (888-350-2857), JP Morgan (866-450-8470), Merrill Lynch (888-706-1381), Morgan Stanley (800-566-2273), UBS (800-253-1974) and Wachovia (866-283-7943).
In settlements reached with state and federal securities regulators, 11 firms have agreed in principle to repurchase more than $50 billion of auction rate securities. In consideration of the settlements, securities regulators agreed to terminate their investigations into the marketing and sale of auction rate securities to individual investors.