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Rating:Fidelity Traders Rang Up a $3 Million Gift Tally Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 15, 2008

Fidelity Traders Rang Up a $3 Million Gift Tally

by: Armie Margaret Lee

More details have cropped up in the Fidelity improper "Green for Greens" gifts case. Fidelity stock traders received more than $3 million in gifts from more than 30 firms, The Boston Globe reported Thursday, citing new SEC documents filed this week. The additional details came to light as part of the SEC's case against 10 current and former Fidelity employees. The gift givers included units of Bank of America, Royal Bank of Canada, as well as Cowen & Co. and Thomas Weisel Partners, according to the SEC.

Fidelity itself settled the allegations in March, agreeing to an $8 million fine. It neither admitted nor denied wrongdoing.  

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