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Bear, Stearns & Co. Inc.: Lit. Rel. No. 18109 / April 28, 2003 |
 | | Bear Stearns' analysts were expected to work with investment bankers to procure investment banking business, and participated in "pitches" in which analysts made representations to potential banking clients concerning, for example, the frequency of coverage that potential investment banking business could expect. |
 | | Bear Stearns made a payment of $102,750 to another broker-dealer in connection with research coverage provided by the other broker-dealer on Andrx Corp., a Bear Stearns underwriting client, without ensuring that the payment was disclosed. |
 | | Bear Stearns also has agreed as part of this settlement to retain, at its own expense, an Independent Monitor to conduct a review to provide reasonable assurance that the firm is complying with the structural reforms. |
| www.sec.gov /litigation/litreleases/lr18109.htm (810 words) |
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