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ARTICLE · 30 JUNE 2021

Firm Settles FINRA Charges For Research Disclosure Failures

Hogan Lovells Cadwalader
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A broker-dealer settled FINRA charges for failing to disclose the relationship between the firm and the subject company featured in the firm's published research reports.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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A broker-dealer settled FINRA charges for failing to disclose the relationship between the firm and the subject company featured in the firm's published research reports.

In a Letter of Acceptance, Waiver, and Consent, FINRA found that the firm did not:

  • enter into its disclosure database relevant information concerning (i) investment banking services provided to companies that were the subject of its research reports and (ii) investment banking and other types of compensation received from companies that were the subject of its research reports;
  • disclose in its research reports that the firm had served as co-manager of securities public offerings for the companies that were the subject of those same reports; and

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