Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Robertson Stephens, Inc.
Penalty: $14,000,000
Year: 2003
Date: January 9, 2003
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: NASD censured and fined Robertson Stephens, Inc. $14 million for receiving inflated commissions from more than 100 client accounts in exchange for the allocation of "hot" initial public offerings in 1999 and 2000 during the height of the IPO boom. This was part of a $33 million case announced by the Securities and Exchange Commission: (click here)
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
Source of Data: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.