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But finance analysts in government and on Wall Street said that Bear Stearns's work with the M.T.A. and knowledge of the deal would give it what one called "a huge advantage" in competition for the underwriting contracts, particularly for the prized role of senior manager, or lead underwriter.
The firm then quit as financial adviser in order to be able to bid on the underwriting contracts, an unusual switch.
The big City investors behind today's inquiry want to see underwriting contracts put out to tender, more disclosure of fees and greater consultation by companies with their investors.
The municipal bond business was once rife with complaints about political money being traded for underwriting contracts, but the S.E.C. cracked down on that in 1994.
Firms frequently give that kind of advice free to government agencies, in hopes of cementing the relationships and trust that can lead to lucrative underwriting contracts when the bonds are sold.
Similar(55)
A risk class is the set of individuals sharing the same value of their observable characteristics used to underwrite contracts (usually demographics such as age and gender).
Until now insurers have been able to factor in the shorter life span of men compared to women when underwriting these contracts, allowing men to benefit from a higher income than women.
The toy company underwrote a contract — $100,000 for the partners, according to the movie — that started a motorsports sponsorship phenomenon.
In 1989, SCA, for a $25,000 fee, underwrote a contract for American Express and Best Western Hotels to pay $250,000 to Little League Baseball if Nolan Ryan of the Texas Rangers pitched a no-hitter that season.
Our analysis is based on an investigation into supplementary health insurance contracts, underwriting procedures and annual surveys among 1,700 2,100 respondents over the period 2006 2009.
ITT once did everything from insurance underwriting to military contracting to baking Wonder Bread.
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CEO of Professional Science Editing for Scientists @ prosciediting.com