Two investment banks request exemption from US SEC analyst research settlement

Piper Sandler and Stifel Financial have recently filed a request with a judge to be released from what they describe as burdensome limitations imposed by the U.S. Securities and Exchange Commission.

The two companies are seeking relief from the restrictions put in place after an incident where they were accused of mishandling confidential information during the auction of the assets of distressed brokerage firm EF Hutton. They claim that the current limitations are overly restrictive and hinder their ability to conduct business effectively.

Piper Sandler and Stifel Financial argue that the constraints imposed by the SEC go beyond what is necessary to address any wrongdoing on their part. They believe that the restrictions are disproportionate and are adversely affecting their ability to serve their clients and compete in the marketplace.

The companies have stated that they have taken steps to address the issues that led to the SEC’s enforcement actions and have implemented measures to prevent similar incidents from occurring in the future. They assert that they are committed to operating with integrity and in compliance with all regulatory requirements.

In their request to the judge, Piper Sandler and Stifel Financial are seeking a modification of the current restrictions to allow them to conduct business in a more efficient manner. They argue that the limitations are impeding their ability to attract and retain clients and are hindering their growth and success in the industry.

The companies have expressed their willingness to work with the SEC to address any concerns or issues that may arise and are open to finding a resolution that is fair and equitable for all parties involved. They are hopeful that the judge will consider their request and grant them the relief they are seeking.

Overall, Piper Sandler and Stifel Financial are pushing for more flexibility in their operations and are advocating for a fair and reasonable outcome in their ongoing interactions with the SEC. They are committed to upholding the highest standards of conduct and are focused on moving forward in a positive and productive manner.