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In December 2014, the financial world was rocked by a scandal that was all too familiar.The Financial Industry Regulatory Authority (FINRA) 1 levied fines totaling $43.5 million against ten broker-dealers who encouraged "their equity research analysts to solicit investment banking business" on behalf of their firms. 2These firms included some of the major bulge bracket banks, 3 such as J.P. Morgan, Goldman Sachs, and Wells Fargo.Their violations were of the same kind that FINRA, Congress, and the Securities and Exchange Commission
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