Robertson Stephens Fined For IPOs
Fine Against Robertson Stephens. Regulators levied a $28 million fine against Robertson Stephens for charging illegally high commissions on initial public offerings during the bull market years. Separately, the Securities and Exchange Commission filed a civil action against Paul Johnson, 42, a former managing director and senior … [Read more...] about Robertson Stephens Fined For IPOs
SEC, Spitzer Might Outlaw Practice Of ‘Spinning’ IPOs
Practice Of ‘Spinning’ IPOs. The market for initial public offerings cooled in 2000. But the chill for corporate executives who had been showered with IPOs from Wall Street could be permanent, Tuesday’s Wall Street Journal reported. A little-noticed effort is under way as part of a plan by the New York attorney general’s office … [Read more...] about SEC, Spitzer Might Outlaw Practice Of ‘Spinning’ IPOs
N.Y. Suit Says Nacchio, Others Wrongly Profited From IPOs
Joe Nacchio Wrongly Profited From IPOs. New York’s attorney general filed a lawsuit Monday alleging that top executives at four companies, including Qwest, accepted stock in newly public companies in exchange for directing business to Salomon Smith Barney. Eliot Spitzer, who has investigated conflicts of interest at … [Read more...] about N.Y. Suit Says Nacchio, Others Wrongly Profited From IPOs
Documents: Salomon Let WorldCom Execs Into IPOs
WorldCom Execs Gains In Each Deals. Salomon Smith Barney handed over documents under subpoena Monday revealing that the brokerage gave WorldCom officers and directors shares in 39 companies Salomon helped take public since 1996. The documents given to the House Committee on Financial Services show that some WorldCom executives … [Read more...] about Documents: Salomon Let WorldCom Execs Into IPOs
NASD Probes Salomon IPOs
Salomon Doled Out Shares. The National Association of Securities Dealers has evidence that Salomon Smith Barney doled out shares of hot initial public offerings to the personal brokerage accounts of corporate executives in a possible attempt to land business from the executives' firms, according to a published report Friday. The … [Read more...] about NASD Probes Salomon IPOs
