CSFB Implements New Policy Restricting Ownership of Securities by Equity and Fixed Income Research Analysts.Business Editors NEW YORK--(BUSINESS WIRE)--July 24, 2001 Effective Immediately, CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank Research Analysts Prohibited from Purchasing Securities of Companies They Cover Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. announced today that it will implement a new Firm-wide policy prohibiting CSFB's equity and fixed income research analysts from purchasing securities of companies they cover. The policy also requires analysts to dispose of To determine the fate of; to exercise the power of control over; to fix the condition, application, employment, etc. of; to direct or assign for a use. See also: Dispose securities covered by the policy that they currently hold by September 30, 2001, unless an exception is granted for special circumstances special circumstances n. in criminal cases, particularly homicides, actions of the accused or the situation under which the crime was committed for which state statutes allow or require imposition of a more severe punishment. . "CSFB's research analysts have an outstanding reputation for producing high-quality, objective research," said Al Jackson, CSFB's Global Head of Equity Research. "We believe this new policy will further demonstrate our ongoing commitment to support the integrity and independence of our research to all investors." "As a global leader in both equity and fixed income research, we believe it is important to be a leader in extending this new policy to both equity and credit analysts," said Giles Keating, Global Head of Fixed Income and Economic Research for CSFB. "We believe that it will reinforce the already strong reputation for independence that our analysts enjoy today." This policy applies globally to all equity or fixed income research analysts, research associates and other members of the analyst's team and their spouses, partners, minor children or other dependents of their household. To avoid imposing undue financial penalties on its analysts as a consequence of the adoption of this new policy, exceptions to the policy may be made in special circumstance to take into account important issues such as severe tax liability, pending retirement and family or estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the , and charitable contribution charitable contribution n. in taxation, a contribution to an organization which is officially created for charitable, religious, educational, scientific, artistic, literary, or other good works. considerations. However, even when exceptions are granted, those covered by the new policy will still be required to follow strict guidelines to limit conflicts of interest such as transferring the securities to an independent investment manager with authority to trade the securities at his or her discretion or filing a Rule 10b5-1 plan of disposition (similar to a blind trust with liquidation instructions). Last month, CSFB implemented other changes to ensure the independence of its research, which included having all equity analysts report to the Global Head of Equity Research and bringing the Firm into full compliance with SIA's "Best Practices" analyst compensation guidelines. Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB's businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , investment research, venture capital, correspondent brokerage services and retail online brokerage services. It operates in over 87 locations across more than 39 countries on 6 continents, and has some 28,000 staff worldwide. The Firm is a business unit of the Zurich based Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. Group, a leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company. For more information on Credit Suisse First Boston, please visit our website at http://www.csfb.com. |
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