oct 9, 2002 - Post-DotCom Bubble,
NASDAQ Hits Bear Market Low
Description:
The 2001 DotCom bubble completes its disintegration, exposing problems with conflicted research analysts who appeared to be influenced by their firms’ investment banking interests. This led to the development of new research-related regulations by FINRA and to provisions in the Sarbanes-Oxley Act dealing with research analyst conflicts of interest. In 2003, the SEC found that “the use of brokerage commissions to facilitate the sales of fund shares [was] widespread among funds that rely on broker-dealers to sell fund shares, resulting in the adoption of new rules to prohibit funds from this practice.”
Added to timeline:
Fiduciary Compliance
Date:
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