The Securities and Exchange Commission is floating rule changes proposed by New York Stock Exchange and the National Association of Securities Dealers to extend the tenets of the 2003 “global settlement” to all registered brokerage firms.
The global settlement sought to resolve concerns about conflict of interest at 10 leading brokerage houses in which investment banking interests imposed too much influence over securities research. The settlement included a number of provisions to cut the ties between bankers and analysts to help produce more objective research for investors.
