Supplementary News Material:
Summary of Yield Burning Settlement Payments“SEC Settles With 10 Brokerage Firms as Part of Global Resolution
of Yield Burning Claims”
April 6, 2000| | No. of Deals Covered | Payments to U.S. Treasury | Payments to Issuers | Total Payments | SEC Firms | Goldman, Sachs & Co. | 122 | $5,110,446.16 | $104,444.11 | $5,214,890.27 | Lehman Brothers Inc. | 241 | $4,520,857.29 | $450,151.62 | $4,971,008.91 | Merrill Lynch, Pierce, Fenner & Smith Inc. | 252 | $4,614,868.76 | $972,481.58 | $5,587,350.34 | Morgan Stanley & Co. Inc. | 127 | $2,453,219.92 | $0.00 | $2,453,219.92 | PaineWebber Inc. | 382 | $21,571,085.72 | $4,608,326.23 | $26,179,411.95 | Prudential Securities Inc. | 63 | $5,832,805.74 | $54,733.89 | $5,887,539.63 | Salomon Smith Barney Inc.* | 219 | $38,004,103.16 | $6,977,739.84 | $44,981,843.00 | Warburg Dillon Read LLC | 21 | $6,326,962.18 | $380,545.06 | $6,707,507.24 | William R. Hough & Co.* | 157 | $3,127,003.43 | $136,668.94 | $3,263,672.37 | Dain Rauscher Inc. | 418 | $11,233,568.59 | $1,607,623.38 | $12,841,191.97 | Total for SEC | 1,990 | $102,794,920.95 | $15,292,714.65 | $118,087,635.60 | NASDR Firms | | A.G. Edwards & Sons, Inc. | 412 | $5,761,284.81 | $124,164.12 | $5,885,448.93 | CS First Boston Corp. | 101 | $796,979.84 | $440,006.08 | $1,236,985.92 | J.C. Bradford & Co. | 95 | $479,219.97 | $56,693.18 | $535,913.15 | Piper Jaffray, Inc. | 359 | $933,042.98 | $0.00 | $933,042.98 | Raymond James & Associates, Inc. | 118 | $2,559,676.53 | $847,140.99 | $3,406,817.52 | Southwest Securities, Inc. | 163 | $438,992.30 | $61,298.94 | $500,291.24 | Wheat, First Securities, Inc. | 365 | $6,273,652.49 | $1,460,110.32 | $7,733,762.81 | Total for NASDR** | 1,613 | $17,242,848.92 | $2,989,413.63 | $20,232,262.55 | Total for All Firms | 3,603 | $120,037,769.87 | $18,282,128.28 | $138,319,898.15 | Previous SEC Yield-Burning Cases | | Lazard Frères & Co. LLC | 28 | $7,451,251.00 | $3,548,749.00 | $11,000,000.00 | BT Alex. Brown Inc. | 50 | $15,177,572.00 | $127,674.00 | $15,305,246.00 | Meridian Securities, Inc. | 24 | $3,400,000.00 | $420,884.00 | $3,820,884.00 | Kidder, Peabody & Co. Inc. | 1 | $2,466,657.34 | $0.00 | $2,466,657.34 | Total for Previous Yield Burning Cases | 103 | $28,495,480.34 | $4,097,307.00 | $32,592,787.34 | Yield Burning Totals | 3,706 | $148,533,250.21 | $22,379,435.28 | $170,912,685.49 |
* Included are twelve refundings that Salomon Smith Barney and William R. Hough & Co. each paid on. ** These figures do not include firm payments of $1,198,000.00 to the NASDR. |
