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 Parent: 
USA
HQ State of Parent: 
Minnesota
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
investment management
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.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.