Criminal charges dropped against CSFB

NEWS

NEW YORK -- The US Justice Department said in late November that it would not pursue criminal charges against Credit Suisse First Boston (CSFB) in respect of investigations into the way shares of technology firms were distributed in initial public offerings (IPOs).

Industry analysts said CSFB, the investment banking offshoot of Swiss banking group Credit Suisse, was at the centre of an inquiry by US securities regulators into whether investment banks required higher commissions from customers

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