Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who started this subject	12/7/2000 4:31:01 AM
From: truthcommission	Read Replies (1) of 122087

REPORT: SEC, FEDS INVESTIGATE EXCHANGE OF COMMISSIONS FOR IPOs The WALL STREET JOURNAL is reporting in bulldog Thursday editions that the Securities and Exchange Commission along with the U.S. attorney's office in Manhattan are investigating whether major Wall Street securities firms "have asked some big investors to pay unusually large trading commissions in exchange for hot initial-public-stock offerings." JOURNAL scribes Randall Smith and Susan Pulliam cite "people familiar with the matter" who say that a federal grand jury has been called to look at the evidence. One firm which is named, and has confirmed that it is being investigated, is Credit Suisse First Boston, a unit of Credit Suisse Group. "The authorities are scrutinizing ways in which Wall Street dealers may have sought and obtained larger-than-typical trading commissions in return for giving coveted allocations of IPOs to certain investors. Some of the arrangements could have included specific formulas tied to the investors' profits on the offerings.... Many of the offerings doubled or more in their first day of trading during an IPO mania that began in late 1998."

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