Lindeen Announces $9.8 Million Settlement for Montanans with RBC Capital Markets

csimt 2009, Press Release, Securities

Montana Commissioner of Securities and Insurance Monica Lindeen today announced a settlement agreement with RBC Capital Markets Corporation. In the agreement, RBC Capital Markets has agreed to return $9,875,000 to Montana residents who purchased auction rate securities from the firm, pay a $20,733.04 fine which will be deposited to the state’s general fund, and contribute $5,000 to the Investor Protection Trust, a non-profit organization, for the purpose of providing investor education to Montana consumers.

Lindeen Announces $550,000 Settlement with Banc of America

csimt 2009, Press Release, Securities

More Montana investors who lost millions in auction rate securities will be getting their money back. State Auditor and Commissioner of Securities Monica Lindeen today announced a major settlement agreement with Banc of America Securities LLC and Banc of America Investment Services, Inc. to return over $550,000 to Montana investors. Today’s agreement will settle an investigation alleging Banc of America misrepresented auction rate securities (ARS) to investors as safe, cash-equivalent products, even though the products faced increasing liquidity risk.

New York Firm Settles With State Auditor’s Office Over Sale Of Unregistered Securities In Montana

csimt 2009, Press Release, Securities

State Auditor and Commissioner of Securities Monica Lindeen today entered into a settlement with New York-based broker-dealer firm Strasbourger, Pearson, Tulcin, Wolff, Inc. and its Chief Executive Officer, Ronald Moschetta. The Securities Department of the Auditor’s Office alleged the firm and Moschetta transacted securities business with Montana investors during the past year without being properly registered in Montana.

Montana State Auditor’s Office Submits Demand Letter to AIG on Behalf of Montana Investors

csimt 2009, Press Release, Securities

Montana State Auditor and Commissioner of Securities Monica Lindeen today sent a demand letter to AIG requesting information about the company’s finances and bonuses. Lindeen is asking her Securities Division to look into potential violations of Montana law, which specifically prohibits omission or misrepresentation in connection with the offer and sale of securities.