Morgan Keegan & Co. was ordered to buy back auction-rate securities (ARS) and pay $110,500 in a case in which it was accused by the Securities and Exchange Commission (SEC) of misleading customers about the risks of the investments we learn in an article from Bloomberg. The U.S. District Judge William Duffey Jr. in Atlanta […]

WASHINGTON — In a February article in The Bond Buyer, Jonathan Hemmerdinger writes that a Financial Industry Regulatory Authority (FINRA) arbitration panel ordered Memphis-based Morgan Keegan & Co. to pay a Birmingham investor $1.95 million for misrepresenting that the Jefferson County, Ala., sewer bonds he purchased were safe, liquid and tax-free investments. These bonds were actually […]