Credit Suisse in Hot IPO Dispute
Traders Magazine, June 2001
Credit Suisse First Boston, in a 121- page filing with securities regulators, denies that it violated any rules in taking commissions from investors who received hot IPO shares. Regulators are investigating if there were excessive markups in the firm's IPO sales.
"There is absolutely nothing written in any guideline, rule, regulation, case or regulatory official that forbids voluntary payment by clients of large commissions," Credit Suisse wrote in a filing. The firm said that it didn't violate an industry rule requiring that IPO fees not exceed five percent of a transaction's value.
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