In a June 29, 2011, article by Bruce Kelly for InvestmentNews.com he writes that as part of a settlement with eight states and the Securities and Exchange Commission, Raymond James Financial Inc. will buy back $300 million in auction-rate securities from clients and pay a fine of $1.7 million. The states in charge of the […]

The following information was posted on Raymond James' website: Raymond James Offer to purchase eligible auction rate securities After providing ready liquidity to investors for over 23 years, in mid-February 2008 the Auction Rate Securities (ARS) market reacted to the unprecedented contractions in the credit markets, resulting in widespread auction failures. While some issuers have […]