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Robertson Stephens Gets Fined $28 Million

 

Securities regulators fined Robertson Stephens, the former arm of FleetBoston Financial(FBF Quote), $28 million for improperly sharing profits with customers on hot initial public offerings.

Under the terms of the settlement, Robertson Stephens was ordered to pay $14 million to the NASD and $14 million to the Securities and Exchange Commission. ...

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