U.S. FINRA launches inquiry into firms' trading tips: report

Source: Yahoo/Reuters

(Reuters) - U.S. securities regulator FINRA has launched an inquiry into how Citigroup (NYSE:C - News), J.P. Morgan Chase (NYSE:JPM - News), Morgan Stanley (NYSE:MS - News) and others offer stock ratings and research, the Wall Street Journal reported, citing people familiar with the matter.

The Journal had said in August that the Financial Industry Regulatory Authority (FINRA) was examining weekly meetings at Goldman Sachs (NYSE:GS - News), where research analysts offer tips to traders and then to big clients.

The examination has now been expanded to include ten other firms, the Journal said.

Read more: http://finance.yahoo.com/news/US-FINRA-launches-inquiry-rb-2514521627.html;_ylt=AskhbdklIubAZIAsDlMskOi7YWsA;_ylu=X3oDMTE1ZHY2ZW5wBHBvcwM1BHNlYwN0b3BTdG9yaWVzBHNsawNmaW5yYXByb2Jlc2Y-?x=0&sec=topStories&pos=3&asset=&ccode=

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IMHO: Buncha crooks. They get in and out before vast majority of investing public.
They traffic on inside information we don't have. I do better at the race track
where I at least have access to the Racing Form.

firms with a fine tooth comb.
Is this Obama requesting they do this?

Large numbers of case files for ongoing investigations by the Securities and Exchange Commission (SEC) and the Equal Employment Opportunity Commission (EEOC) were reportedly destroyed in the collapse. The Los Angeles Times reported that "substantial files were destroyed" for 3000 to 4000 of the SEC's cases. The EEOC reported that documents for 45 active cases were destroyed. Before the attack, SEC investigations of corporate fraud by companies such as Enron and Worldcom were the subject of many news reports -- reports that virtually vanished in the wake of the attack.

Draw your own conclusions...