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Violation Tracker Individual Record

Company: U.S. Bancorp Piper Jaffray
Current Parent Company: Piper Sandler
Penalty: $250,000
Year: 2002
Date: June 25, 2002
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: financial institution supervision failures
Violation Description: NASD announced that, as part of its ongoing regulatory focus on investment banking and research analyst activities, it reached a settlement with U.S. Bancorp Piper Jaffray and a Piper Managing Director NASD found to have threatened Antigenics, Inc., a Nasdaq-listed company, by saying that Piper would discontinue research coverage and stop making a market in the company's stock if it did not select Piper as lead underwriter for a planned secondary offering.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Minnesota
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: investment management
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.