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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who started this subject	4/30/2002 4:57:00 PM
From: TFF	Read Replies (1) of 12617

SEC Requests Research Information From 10 Brokers, WSJ Reports New York, April 30 (Bloomberg) -- The Securities and Exchange Commission has formally requested research information from 10 brokerages, the Wall Street Journal reported, citing people familiar with the matter. The SEC is investigating whether Wall Street firms misled investors by giving favorable ratings to retain investment-banking clients, the paper said. The agency stopped short of issuing subpoenas and is requesting the information be submitted voluntarily, the paper said, citing the people familiar. Spokespersons for several firms, including Merrill Lynch & Co. and Morgan Stanley Dean Witter & Co., didn't return calls seeking comment, the paper said. A spokesman for Salomon Smith Barney had no immediate comment and an SEC spokeswoman had no comment, the Journal said. New York State Attorney General Eliot Spitzer is doing his own investigation, focusing on the research practices at Merrill Lynch & Co. (WSJ 4-30 Interactive) For the Wall Street Journal's Web site, see {WWSJ }.

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