E*TRADE IPO Alert - Y2K and Beyond (EGRP) Message Board

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Technology Stocks : E*TRADE IPO Alert - Y2K and Beyond (EGRP)

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To: louieb who wrote (4001)	3/25/2000 12:22:00 PM
From: Topannuity	Read Replies (1) of 10270

There's a conversation on the WIT IPO thread about whether participating brokers (e.g., WIT, E*T, CS, FBR, Fidelity) are compelled by SEC rules to redistribute the shares they are allotted by the lead underwriters to individual investor accounts or whether the brokers can can keep the "hot" IPOs for themselves. If there is no rule against it, what disincentives would there be for a broker to keep hot IPOs for itself? Of course, if it was ever found out there would be really bad publicity for any broker who advertised that it distributes IPOs to its investor accounts. But are there any regulations which prohibit a broker from keeping IPOs? Is there any evidence that this may be going on?

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