Thomas Weisel Settles Probe of Analysts
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Thomas Weisel Partners has reached a tentative agreement with federal securities regulators to pay $12.5 million to settle investigations into whether its stock analysts gave tainted advice to investors, a company spokeswoman confirmed Thursday.
The San Francisco-based investment firm will pay a $10-million fine and contribute $2.5 million to the distribution of independent research to investors, the spokeswoman said.
Weisel is the last of a dozen Wall Street firms to agree in principle to pay fines to resolve probes into whether analysts talked up stocks to win investment banking business.
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