The investigation in Pyramid Saimira brings to light the role of investment banker Keynote Capital. The Pyramid Saimira scam raises a questions mark on the so-called "Chinese Wall" claimed by many investment managers between their broking, advisory and investment banking arms.
In this case, the Securities and Exchange Board of India (Sebi) pulled up Keynote Capital, the lead manager to the Pyramid Saimira's initial public offering (IPO), for issuing questionable trade recommendations on the Pyramid stock. It has prohibited Keynote from giving any trade recommendations for any listed company till further directions.
Monday, April 27, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment