30 Firms Face NASD Fund-Trading Probe
Fund-Trading Probe Investigation. NASD, the securities industry's main regulator, is investigating more than 30 firms in connection with improper mutual fund trading, people familiar with the matter said Tuesday. The investigations are part of an industry-wide review of mutual fund practices known as market timing and late … [Read more...] about 30 Firms Face NASD Fund-Trading Probe
WorldCom Investors to Complain to NASD
WorldCom Investors Complain to NASD. In an unusual move, a group of small investors who say they lost their life savings because of Wall Street analyst Jack Grubman's puffed-up stock rating for WorldCom Inc. are taking their complaints en masse to the security industry's watchdog group. The group of more than 100 investors are … [Read more...] about WorldCom Investors to Complain to NASD
NASD Slaps $5M Fine On Salomon
Salomon Misleading Stock Research. Securities regulators yesterday hit Citigroup subsidiary Salomon Smith Barney with a $5-million fine for misleading stock research and filed a separate complaint against the firm's former star telecommunications analyst, Jack Grubman. The National Association of Securities Dealers' fine covers … [Read more...] about NASD Slaps $5M Fine On Salomon
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
