December 11, 2014
The Financial Industry Regulatory Authority (FINRA) fined 10 brokerage firms a total of $43.5 million for allowing their analysts to solicit investment banking business and for offering favorable research coverage in connecting with the 2010 IPO of Toys R Us.
Firms and fines:
- Barclays Capital $5 million
- Citigroup Global Mkt $5 million
- Credit Suisse $5 million
- Goldman Sachs $5 million
- JP Morgan Sec. $5 million
- Deutsche Bank $4 million
- Merril Lynch $4 million
- Morgan Stanley $4 million
- Wells Fargo $4 million
- Needham & Co. $2.5 million
Entire FINRA Press Release here.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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