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  FINANCIAL RESEARCH AND ANALYSIS July 27, 2004 post FUTURE OF INDEPENDENT RESEARCH -- GLOBAL SETTLEMENT (SPITZER-TOP 10 FIRMS) EFFECTIVE JULY 26 - AND NOW WHAT FOR BROKERAGE CUSTOMERS-INVESTORS? When New York Attorney General Eliot Spitzer settled charges with the Big 10 Wall Street investment banking / full-service brokerage firms, after the AG attacked the firms' faulty or allegedly misleading research reports (no guilt was admitted), it was agreed that [as part of the historic settlement] the banking-brokerage firms would make available to their customers "independent research." This would be purchased from qualified third parties that had no compensation coming to the firm from investment banking or brokerage businesses. The plan was to be put in action by the Big 10 on July 26 (more). |
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Copyright 2005 H.L. Boerner. All rights reserved. |
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