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CSFB To Pay $100 Million Fine to SEC and NASD To Settle Twin IPO Abuse Investigations
In what will be the 5th largest fine ever imposed upon a securities firm, CSFB has agreed to pay a $100 million fine, or about 1/7 of the fees that it reaped in 1999 and 2000, from the technology stock IPO business.
The investigation had focused upon the firm's providing large investors shares of stock in hot IPO deals, only to have them agree to kick back monies to the firm in the form of inflated commissions on other stock trades.
Source: Wall Street Journal, December 11, 2001
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