Illegal Activity
suspicious
Blackmail
none
Date
2013-09-23
Document Type
legal filing
Model
gemini-2.0-flash-001
Processed
2026-02-07T18:43
Summary
This document is a legal disclosure related to Glendower Capital Secondary Opportunities Fund N. LP, outlining past settlements involving Credit Suisse and Raymond James concerning auction rate securities. It details the terms of these settlements and their potential impact on investors.
Metadata
- Subject
- Scotian 9: Certain Legal. ERISA and Tax Considerations
- Sender
- —
- Recipients
- —
- Document ID
- DB-SDNY-0099368
- Date
- 2013-09-23
Illegal Activity
- Severity
- suspicious
- Description
- The document mentions that some of Raymond James' financial advisers inaccurately described auction rate securities, which could be considered unethical or dishonest practices.
- Content Type
- first_hand
Evidence:
- Raymond James' financial advisers inaccurately described auction rate securities.
Relationships 2
| Entity 1 | Relationship | Entity 2 | Description |
|---|---|---|---|
| Credit Suisse Securities (USA) LLC | legal settlement | New York State Attorney General's Office | Credit Suisse Securities (USA) LLC reached an agreement with the New York State Attorney General's Office to settle investigations concerning investment products generally known as 'auction rate securities.' |
| Raymond James & Associates, Inc. | legal settlement | states, Puerto Rico, the Virgin Islands, and the District of Columbia | Raymond James & Associates, Inc. and Raymond James Financial Services, Inc. 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 3
Under Rule 506(e) of Regulation D promulgated under the Securities Act, the General Partner is required to furnish to each purchaser of interests a description of any matters that would have triggered disqualification under paragraph (d)(1) of Rule 506 of Regulation 0 but occurred before the rule's effective date. September 23. 2013.
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.'
Although Raymond James' auction rate securities trade confirmations disclosed the risk that auction rate securities auctions could fail and that Raymond James were not obliged to ensure their success, at the point-of-sale, some of Raymond James' financial advisers inaccurately described auction rate securities.
Red Flags 1
- Past settlements involving Credit Suisse and Raymond James related to auction rate securities.
Financial Information
Amounts:5550 million515 million
Assets:
- auction rate securities
Transactions:
- repurchase up to 5550 million of auction rate securities
- pay civil penalties of 515 million
- Raymond James offered to purchase eligible auction rate securities from eligible customers and to pay fines.
Legal Compliance
- Disclosures related to Rule 506(e) of Regulation D promulgated under the Securities Act.
- Settlements related to auction rate securities by Credit Suisse and Raymond James.
Raw Analysis JSON
click to expand
Themes
Legal matters/litigationFinancial transactions/money flowBusiness dealings
Organizations 9
Bright GroupGlendower Capital Secondary Opportunities Fund N. LPCredit Suisse Securities (USA) LLCNew York State Attorney General's OfficeNorth American Securities Administrators Association Task ForceCredit SuisseRaymond James & Associates, Inc.Raymond James Financial Services, Inc.Raymond James
Locations 4
U.S.Puerto RicoVirgin IslandsDistrict of Columbia
Financial Entities 3
Credit Suisse Securities (USA) LLCRaymond James & Associates, Inc.Raymond James Financial Services, Inc.
Text Analysis
- Tone
- Informative
- Purpose
- To provide legal disclosures regarding past settlements involving Credit Suisse and Raymond James in relation to the offering of interests in Glendower Capital Secondary Opportunities Fund N. LP.
- Significance
- The document discloses past legal settlements involving placement agents, Credit Suisse and Raymond James, which could be relevant to investors considering investing in the fund.
File Info
- File Name
- EFTA01393676.txt
- Dataset
- dataset_10
- Type
- Text
- Model
- gemini-2.0-flash-001
- Processed
- 2026-02-07T18:43:06.545637
- DOJ Source
- View on DOJ