We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Investment Bank's Dicey Emails Fetch $900K FINRA Fine

Law360, New York (May 11, 2016, 2:28 PM EDT) -- Stephens Inc. will pay the Financial Industry Regulatory Authority $900,000 to settle claims that the investment banking and private equity firm sent out mass internal emails with nonpublic information, which employees could then misuse for unfair trading, the regulator said Wednesday.

The so-called flash emails from research analysts were supposed to have only publicly available information, but due to a lack of supervision, that restriction was not enforced, leading to the potential for improper use by sales and trading employees, FINRA said. Little Rock, Arkansas-based Stephens...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.