Regulators Fine FBR $7.7M For PIPE Deal

Law360, New York (December 20, 2006, 12:00 AM EST) -- Investment banking and brokerage firm Friedman, Billings, Ramsey & Co. Inc. received court approval Wednesday to pay $7.7 million to the National Association of Securities Dealers and the U.S. Securities and Exchange Commission to settle charges that it engaged in an improper PIPE deal.

FBR agreed to shell out $4 million to the NASD and $3.7 million to the SEC to settle charges brought Wednesday by the SEC in the U.S. District Court for the District of Columbia. FBR also agreed to hire an independent consultant...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.