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

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

Rating:A Gifted Fido? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 24, 2004

A Gifted Fido?

by: Theresa Sim

Correction: it's not just Super Bowl tickets and golf outings that regulators are looking into. You can add pricey wine and expensive trips to the list. As reported Tuesday, both the SEC and the NASD are looking into lavish gifting from broker dealers to mutual fund executives.

In the hotseat, according to the Wall Street Journal, is none other than Fidelity Investments.

Fidelity and its relationship to brokerage firm Jeffries is under scrutiny, an unnamed person familiar with the matter told the WSJ. Jeffries broker Kevin Quinn was fired on October 11 from the brokerage because of "improper travel and entertainment costs," reported Bloomberg. According to Bloomberg and SEC data from the last 12 months, Fidelity was brokerage's largest client.

Under NASD rules, brokers are not allowed give more than $100 in gifts per year.

As yet, the regulatory investigation, which involves two dozen brokerages, is still an informal probe and reported Bloomberg News.

Regulators said they are concerned that fund executives may have directed trades to brokerages depending on whether they were treated generously by the brokerages. 

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
2020: Q1
2019: Q4Q3Q2Q1
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. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use