Category Archives: Needham & Co.

FINRA Fines 10 Firms $43.5 Million On “Toys R Us” IPO

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. 

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