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NASD Fines Alliance Trader For Conflict Of Interest

Law360 (February 9, 2006, 12:00 AM EST) -- An analyst at a subsidiary of Alliance Capital Management LP violated conflict of interest regulations by selling shares while propping them up in research reports, according to the National Association of Securities Dealers, which settled with the firm for more than half a million dollars as a result of its investigation.

The fines against New York-based money manager Sanford C. Bernstein & Co. Inc. and analyst Charles B. Hintz are the biggest issued to date by the NASD for violation of its conflict of interest rule,...
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