NASD aims to reign in IPO abuses

Discussion in 'Trading' started by stock777, Nov 24, 2003.

  1. It proposed guidelines to address common conflicts of interest and dubious practices. It would force more underwriter disclosure to try to stop "spinning," the now-banned practice of doling out hot IPOs to CEOs being courted for banking work. They would ban market orders on the first post-IPO trading day to protect investors getting orders filled at sky-high prices that the stock never hits again. Limit orders would be OK.

    ----- That second part must be an early April 1 joke, right ------