MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, May 5, 2005 NY Times Notices Fido Trading Flap The New York Times has noticed the "Greens-for-Green" probes into whether brokerages bribed Fidelity traders with free golf outings, tickets and trips in exchange for trade order flow. The investigations have been widely covered by trade press, wire services and the Boston papers since last fall. In its Thursday story the paper adds little new, other than to provide background for its readers and to note that "sex and drugs" were among the enticements offered to traders. It also recounts the South Beach bachelor party trip thrown for Fidelity trader Tom Bruderman before his marriage to Tyco CEO L. Dennis Kozlowski's daughter, but fails to mention either Kozlowski or Bruderman by name. The investigations are being conducted by the United States attorney's office in Boston, the S.E.C. and the NASD. The Times also reports that employees from to brokerages -- Lazard and Jefferies -- have resigned along with five Fidelity traders, but fails to note the recent resignation of an SG Cowen employee as well. Printed from: MFWire.com/story.asp?s=9634 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |