Eccleston Law: James Eccleston Quoted in Reuters Regarding Private Placements in State Securities Regulators Ordering Returns
Eccleston Law Offices attorney James Eccleston was quoted in Reuters "States order return of $14.1 billion to investors: NASAA"
The article highlights the fact that State Securities Regulators ordered wrongdoers to make returns to investors, with returns totaling over $14.1 billion dollars. This was due to the fact that settlements between state regulators and brokerage firms required the repurchase of auction rate securities from customers.
There has been a "remarkable increase" in the number of offererings during recent years, said James Eccleston, a Chicago-based securities lawyer.
The securities, which can provide a way for small companies to raise capital, don't have to be registered with regulators and are supposed to be sold only to investors who meet certain income and net worth standards. Those deals, however, "largely avoid any kind of scrutiny," Eccleston said.
"Declining real estate values also have sparked more interest in various real estate investments."
This article can be read at www.reuters.com/article/2011/10/19/state-securities-idUSN1E79I18R20111019
Related Attorneys: James J. Eccleston