Wachovia Fined For Missing Conflict Disclosures

Law360, New York (November 28, 2007, 12:00 AM EST) -- The U.S. Financial Industry Regulatory Authority announced on Wednesday that it has fined Wachovia Capital Markets $300,000 for allegedly violating FINRA's rules on disclosing research analysts' conflicts of interest.

From June 2004 to May 2006, the North Carolina-based bank issued 40 research reports that failed to make a total of 56 disclosures about its relationships with the companies discussed in the reports, FINRA said in a press release.

"This case strikes at the heart of FINRA's research disclosure program, which was put into place in 2002...
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