Illegal Activity
none
Blackmail
none
Date
2013-09-23
Document Type
legal filing
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:41
Summary
This document is a disclosure to potential investors in Glendower Capital Secondary Opportunities Fund IV. LP, outlining past legal settlements involving Credit Suisse and Raymond James related to auction rate securities. It details the allegations and settlements, emphasizing that neither firm admitted wrongdoing.
Metadata
- Subject
- Glendower Capital Secondary Opportunities Fund IV. LP - Certain Legal. ERISA and Tax Considerations, Securities Law Matters
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0096368
- Date
- 2013-09-23
Relationships 4
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| Credit Suisse Securities (USA) LLC ('CSSU') | Legal | New York State Attorney General's Office | CSSU reached an agreement with the New York State Attorney General's Office to settle investigations concerning investment products generally known as 'auction rate securities.' |
| Credit Suisse Securities (USA) LLC ('CSSU') | Legal | North American Securities Administrators Association Task Force | CSSU reached an agreement with the North American Securities Administrators Association Task Force to settle investigations concerning investment products generally known as 'auction rate securities.' |
| Raymond James & Associates, Inc. | Legal | States, Puerto Rico, the Virgin Islands, and the District of Columbia | Raymond James settled with most of the states, Puerto Rico, the Virgin Islands, and the District of Columbia allegations that they failed to supervise and/or engaged in dishonest or unethical practices related to the sale of auction rate securities. |
| Raymond James Financial Services, Inc. | Legal | States, Puerto Rico, the Virgin Islands, and the District of Columbia | Raymond James settled with most of the states, Puerto Rico, the Virgin Islands, and the District of Columbia allegations that they failed to supervise and/or engaged in dishonest or unethical practices related to the sale of auction rate securities. |
Notable Quotes 2
Under the terms of the settlement agreement, CSSU agreed to repurchase up to 5550 million of auction rate securities held by certain investors and pay civil penalties of 515 million. Under the settlement agreement, CSSU neither admits nor denies wrongdoing.'
'Beginning in 2011. Raymond James 8 Associates, Inc. and Raymond James Financial Services, Inc. (collectively Raymond James) settled with most of the states, Puerto Rico, the Virgin Islands, and the District of Colurnbia allegations that they failed to supervise and/or engaged in dishonest or unethical practices (or substantially equivalent non-fraud based terms under relevant state statutes) related to the sale of auction rate securities.'
Red Flags 1
- Past settlements by Credit Suisse and Raymond James for dishonest or unethical conduct related to auction rate securities.
Financial Information
Amounts:5550 million515 million
Assets:
- auction rate securities
Transactions:
- CSSU agreed to repurchase up to 5550 million of auction rate securities held by certain investors and pay civil penalties of 515 million.
- Raymond James offered to purchase eligible auction rate securities from eligible customers and to pay fines.
Public Knowledge
- Context
- The settlements by Credit Suisse and Raymond James regarding auction rate securities were likely reported in the media at the time.
Legal Compliance
- Disclosures related to past settlements by Credit Suisse and Raymond James regarding auction rate securities.
Raw Analysis JSON
click to expand
Themes
Legal matters/litigationFinancial transactions/money flowBusiness dealings
Organizations 8
BBR PartnersGlendower Capital Secondary Opportunities Fund IV. LPCredit Suisse Securities (USA) LLC ('CSSU')New York State Attorney General's OfficeNorth American Securities Administrators Association Task ForceRaymond James & Associates, Inc.Raymond James Financial Services, Inc.Raymond James
Locations 4
U.S.Puerto RicoVirgin IslandsDistrict of Columbia
Financial Entities 3
Credit SuisseRaymond James & Associates, Inc.Raymond James Financial Services, Inc.
Text Analysis
- Tone
- Formal, legal
- Purpose
- To disclose past legal settlements involving placement agents (Credit Suisse and Raymond James) to potential investors in Glendower Capital Secondary Opportunities Fund IV. LP, as required by Rule 506(e) of Regulation D.
- Significance
- This document is significant because it reveals past regulatory issues faced by Credit Suisse and Raymond James related to auction rate securities, which could be relevant to investors' risk assessment.
File Info
- File Name
- EFTA01391449.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:41:35.508137
- DOJ Source
- View on DOJ