WASHINGTON - A group of state securities regulators investigating whether investment banks adequately disclosed the risks associated with the auction-rate securities they sold investors have formed a task force to share their information and expertise with other states trying to address investor ARS complaints.

The creation of the task force - which currently includes securities regulators from nine states and is being led by Bryan Lantagne, director of the Massachusetts Securities Division - was announced yesterday by the North American Securities Administrators Association.

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