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Posts Tagged ‘NASAA North Carolina’

E*Trade “Heard Us” and Pays Off $100 Million ARS

Posted by Larry Doyle on October 25th, 2011 7:35 PM |

Let there be no doubt that public pressure appropriately applied can bring real results in the midst of little courage displayed by far too many in the world of financial regulation. How so?

The North American Securities Adminstrators Association recently announced a settlement with E*Trade Securities LLC in which that financial institution will return approximately $100 million to firm clients who have had their funds frozen in ARS—those supposed cash surrogate money market alternative investments—since February 2008.

This settlement is better than any other settlement I have witnessed over the last three years. The specifics include:  (more…)






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