|
|
|
|
SEC Fines 7 Brokerage Firms for Failing to Disclose Receiving Payments for Research Coverage
The SEC imposed a $3.65 Million on the following firms: Janney Montgomery Scott; Adams Harkness; SG Cowen; Friedman, Billings, Ramsey; Morgan Keegan; Needham & Company; and the Prudential Equity Group.
These brokerage firms received payments for issuing research on certain companies from 1999 to 2002. Such payments create a conflict of interest and must be disclosed.
Source: New York Times, August 26, 2004
|
Sponsored by James J. Eccleston. This Web site contains material of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment adviser when building and protecting your wealth.
All content Copyright © 2010 Advocate Compliance Partners, Inc. except where noted. All rights reserved.
One North Franklin Street, Suite 2620, Chicago, IL 60606
Telephone 312-332-0000 | Fax 312-332-0003
|
|
|
|
|
