
NASD censured and fined Robertson Stephens, Inc. $14 Million for receiving inflated commissions from more than 100 client accounts in exchange for the allocation of "hot" initial public offerings in 1999 and 2000 during the height of the IPO boom. This was part of a $33 million case announced by the Securities and Exchange Commission: For more info visit https://web.archive.org/web/20041019234652/http://www.nasdr.com/news/pr2003/release_03_001.html