Ten of Nation's Top Investment Firms Settle Enforcement Actions Involving Conflicts of Interest Between Research and Investment Banking¶
U.S. Securities and Exchange Commission. (2003). Ten of Nation's Top Investment Firms Settle Enforcement Actions Involving Conflicts of Interest Between Research and Investment Banking.
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- This misalignment drove the 2003 Global Analyst Research Settlement, in which major U.S. banks paid about $1.4 billion and agreed to wall off research from investment banking
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“In addition, the firms will make payments totaling $432.5 million to fund independent research, and payments of $80 million from seven of the firms will fund and promote investor education. The total of all payments is roughly $1.4 billion.”
- This misalignment drove the 2003 Global Analyst Research Settlement, in which major U.S. banks paid about $1.4 billion and agreed to wall off research from investment banking
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