Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:NASD Probes 12 Brokerages Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 06, 2003

NASD Probes 12 Brokerages

by: Sean Hanna, Editor in Chief

The NASD is conducting 12 investigations of brokerage firms that it believes may have placed mutual funds on their recommended lists in exchange for directed brokerage activity from the funds Reuters reported Thursday.

The probe is unrelated to the market timing and late trading probes being conducted by the New York State attorney general's office and the SEC.

NASD Vice Chairman Mary Schapiro told members of the House of Representatives Capital Markets Subcommittee that at least one case is imminent.

"We will be announcing a major case very shortly, in the next several weeks," she said.

Schapiro added in an interview with Reuters that the trade is a "quid pro quo" tat creates an undisclosed incentive for brokerages to recommend those particular funds.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use