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Robertson Stephens Runs Afoul of the Regulators

Traders Magazine, January 2003

Gregory Bresiger

Robertson Stephens, regulators say, illegally obtained hot IPOs for some 100 accounts and has been fined $28 million. It has been censured and will pay $14 million each to the Securities and Exchange Commission and the National Association of Securities Dealers. These agencies charged that the firm inflated commissions by engaging in what the regulators charged were "non-economic trades" at the height of the IPO boom in 1999 and 2000.

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