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Citigroup CEO limits contacts
Weill to limit analyst contact and have monitor in place when he interacts with research.
January 20, 2003: 7:36 AM EST

NEW YORK (CNN/Money) - In the aftermath of the conflict-of-interest scandals on Wall Street, Citigroup's CEO Sanford Weill has signed off on rules limiting his interaction with analysts, including having a monitor in place when he does discuss research, according to a published report Monday.

Regulators plan to ask the CEOs of other major banks including Goldman Sachs' (GS: Research, Estimates) Henry Paulson and Morgan Stanley's (MWD: Research, Estimates) Phil Purcell to agree to similar moves, according to the New York Daily News.

"If some person or even the CEO is going to be pressuring the analysts one way or the other, that's something compliance should know about," Darren Dopp, spokesman for New York State Attorney General Eliot Spitzer told the paper.

The top investment banks agreed to a $1.5 billion settlement with regulators in Dec. over allegedly tainted stock research, although the NASD and the New York Attorney General's Office are heading for a showdown over a final regulatory report, threatening to delay completion of a broad settlement of research practices with the firms.

Shares of Citigroup (C: Research, Estimates) fell 31 cents Friday to close at $36.80.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.