SEC Announces Independent Consultants Under Global Research Analyst Settlement
FOR IMMEDIATE RELEASE
2003-158Washington, D.C., Nov. 14, 2003 — The Securities and Exchange Commission today announced the Independent Consultants who have to date been selected to procure independent research for the ten investment firms in the global research analyst settlement approved by the Honorable William H. Pauley III, United States District Judge for the Southern District of New York, on Oct. 31, 2003. The Final Judgments require the firms to make payments totaling $432.5 million over five years to fund independent research for investors and call for the selection of Independent Consultants acceptable to the Commission staff, the New York Attorney General, the New York Stock Exchange, the NASD, and the President of NASAA to oversee the procurement of the independent research from independent research providers. The Independent Consultants who have been selected to date are: | Bear, Stearns & Co. Inc. | Michael J. Downey (mjd@mdowney.com) | | Citigroup | Stanley "Bud" Morten (budmorten@aol.com) | | C. S. First Boston | Patricia Chadwick (pchadwick@ravengate.com) | | Goldman Sachs | Henry A. Frantzen (hfrantzen@frantzencapital.com) | | J. P. Morgan Chase | Laura Unger (lsunger@aol.com) | | Lehman Brothers Inc. | Mark Fichtel (mfichtel@cloud9.net) | | Merrill Lynch | Bridget Macaskill (bamacaskill@aol.com) | | Piper Jaffray | Thomas Brakke (tom@tjbllc.com) | | UBS Warburg | Michael A. Dritz (mike@dritzenterprises.com) |
Contact: SEC Office of Public Affairs, (202) 942-0020 |
