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Article: Settlement singles out Citigroup
- Article from:
- International Herald Tribune
- Article date:
- April 30, 2003
- Author:
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The $1.4 billion settlement between regulators and Wall Street firms
that is intended to discourage bias in research reports places special
restrictions on executives of Citigroup Inc. The agreement, announced
Monday by regulators and prosecutors, bars Sanford Weill, chairman
of Citigroup, and other senior executives from discussing investment
banking matters with the firm's research analysts unless a company
lawyer is present. By highlighting Citigroup executives, regulators
and prosecutors demonstrated their determination to stymie conflicts
of interest within the investment bank's sprawling operations. The
restrictions, which Citigroup officials agreed to, are also ...