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Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: Seeker who wrote (10797)	5/31/2002 1:20:18 PM
From: Seeker	Respond to of 17683

WASHINGTON -- The Securities and Exchange Commission is probing 10 cases of possible conflicts of interest involving Wall Street analysts, according to information released Friday by Rep. Edward Markey, D-Mass. "This is good news, since vigorous enforcement is an important deterrent to potential wrongdoers," Markey said in a statement announcing the probes. According to Markey, in addition to the 10 cases under investigation by the SEC, the National Association of Securities Dealers and the New York Stock Exchange have 37 inquiries underway into analysts' conflicts. Of the SEC's probes, four involve analysts trading in securities they cover, Markey said. Another relates to undisclosed payments to an analyst by a stock issuer. Markey said the SEC is pursuing formal investigations in half of the cases, and is pursuing the rest without formal orders. One pending SEC enforcement action involves allegations of insider trading by a research analyst at Credit Suisse First Boston, Rep. Markey said. Analysts conflicts have come under intense scrutiny recently. Merrill Lynch & Co. recently agreed to pay $100 million to settle allegations by New York State Attorney General Eliot Spitzer that its analysts promoted stocks they privately called "dogs." Merrill didn't admit to or deny the allegations. Spitzer's investigation into possible conflicts at other Wall Street firms is continuing, as is a probe by state securities regulators under the umbrella of the North American Securities Administrators Association. In the wake of Spitzer's action, Markey asked SEC Chairman Harvey Pitt to report on what the SEC and self-regulatory organizations are doing to probe analysts' conflicts. He asked Pitt to provide details about the number of investigations begun by the SEC in the past 12 months, including the names of the firms and individuals involved. "The SEC's response indicates that the commission and the SROs are currently pursuing a significant number of cases involving potential securities laws violations by Wall Street research analysts," Markey said. Write to Judith Burns at judith.burns@dowjones.com

To: Seeker who wrote (10797)	5/31/2002 1:39:21 PM
From: Gamma Positive	Read Replies (1) \| Respond to of 17683

except 15 year old kids on chat boards That's actually a good example too. As "bang for the buck" also includes more "egregious" cases. Now I don't have all the details, and I know there are those who will liken analysts on CNBC as doing a similar thing, yada, yada, but it's not the same.