Limits On Analyst-Banker Communications Remain

Law360, New York (March 18, 2010, 5:07 PM EDT) -- A federal judge has rejected a bid by a dozen Wall Street firms and the U.S. Securities and Exchange Commission to ease restrictions on some communications between research analysts and investment bankers prohibited by a 2003 settlement.

While approving the other alterations to the deal proposed by the SEC and the financial firms, Judge William H. Pauley III of the U.S. District Court for the Southern District of New York on Monday rejected a modification that would have allowed analysts and investment bankers to discuss market...
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