Monday, December 4, 2006

Be Careful on Holiday Gifts

Jefferies & Company, Inc. reached a settlement with the SEC and NASD "relating to the activities of a former employee who was dismissed by Jefferies & Company in 2004."  The company's SEC EDGAR  filing states that "[t]he Company has previously reserved 100% of the approximately $10.3 million in aggregate of disgorgement, pre-judgment interest and penalty assessed in these proceedings." The WSJ explains further saying that the money was paid "to settle allegations" related to a trader giving lavish gifts "to Fidelity Investments to win mutual-fund trading business."


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can someone explain the crime here? Quinn was barred for life for entertaining his clients?

Posted by: anonymous | Dec 5, 2006 6:34:13 AM

This blog item was not intended to express a
view that a crime had been committed. (esp)

Posted by: ellen | Dec 5, 2006 8:57:36 PM

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