SEC Sanctions Former Piper Subsidiary and Four Officials

Hume, Lynn
August 2003
Bond Buyer;8/27/2003, Vol. 345 Issue 31707, p5
Trade Publication
Reports on the ruling by the U.S. Securities and Exchange Commission (SEC) that Piper Capital Management Inc., a former investment advisory arm of Piper Jaffray Companies Inc., and several associated officials violated the securities fraud laws by failing to disclose to municipalities and other investors the risks and volatility of one of its mutual funds which suffered derivatives-related losses almost a decade ago. Opinion issued by three SEC commissioners; Action taken by the SEC commissioners; Details of the complaint filed by affected parties.


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