Thursday, March 18, 2010
The Wall St. Journal reported this morning on the SEC's approval of some easing of the restrictions on dealings between analysts and investment bankers at the major firms that are signatories to the 2003 Analysts' Settlement. (Elimination of a significant restriction -- allowing communications between analysts and investment bankers outside the presence of a compliance officer -- was denied by the judge overseeing the settlement.) The WSJ follows up on this and describes how the SEC failed to enact industry rules that would continue and broaden the applicability of some of the settlement's key provisions. WSJ, SEC Didn't Expand Upon Stock-Abuse Settlement.