Ten Wall Street Banks to Pay $43.5 Million in FINRA Settlement

Ten Wall Street banks will reportedly pay a combined $43.5 million as part of a settlement with the Financial Industry Regulatory Authority over allegations the banks “offered favorable research to Toys ‘R: Us Inc. in order to curry favor with the retailer prior to a planned 2010 public stock offering.” The banks do not admit wrongdoing as part of this settlement.

Many of these same banks were party to a $1.4 billion settlement a decade ago as part of then-New York Attorney General Eliot Spitzer’s investigations into similar allegations.

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