The North American Securities Administrators Association (NASAA) announced establishment of a toll-free hotline and website to assist investors who purchased auction rate securities (ARS) through E*TRADE Securities LLC.
Regulators and E*TRADE reached a settlement in October 2011 with E*Trade agreeing to $ fine of $5 million and the return of approximately $100 million to its clients who have had their funds frozen in the ARS market since 2008.
The firm is required to maintain a dedicated toll-free telephone assistance line, website and an email address to provide information to investors.
The toll-free hotline can be reached at 1-888-296-0880, Monday through Friday between 8:30 a.m. and 5 p.m. Pacific time. The website for information is www.ETradeARSBuyIn.com.
E*Trade is one of the last of the brokerage firms to resolve its auction rate securities cases.
Rex Securities Law , located in Boca Raton, FL, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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