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Investment banks under scrutiny

Credit Suisse could be the first of many facing charges...

By Lynne Hardy

Published: 23 January 2002 08:26 GMT

Charges of share allocation abuses brought against investment bank Credit Suisse First Boston (CSFB), announced yesterday, could be the first of a series of similar charges to be brought against Wall Street firms and individuals.

CSFB agreed to pay a $100m settlement with US regulators, after an 18-month investigation into its public offering policies.

According to sources close to the investigations, other Wall Street firms are also under scrutiny.

Investment banks Goldman Sachs and Morgan Stanley's share practices are also under investigation.

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