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Wall Street Fines

NPR | By Jim Zarroli

Published December 20, 2002 at 12:00 AM EST

NPR's Jim Zarroli reports Wall Street's top brokerage firms agreed to pay nearly $1.5 billion in fines to settle conflict-of-interest charges. Regulators accused the firms of continuing to recommend stocks they privately had turned against. Besides fines, the firms agree to spend several hundred million dollars in coming years buying research from independent firms that don't mix stock research with investment banking.

Copyright 2002 NPR

Jim Zarroli

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.

See stories by Jim Zarroli

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