Fines at CSFB

Credit Suisse First Boston is believed to have levied fines of $2m on four managers in connection with an investigation into how shares were allocated in initial public offerings over the last three years. The managers are thought to have agreed to pay the fines.

The investment bank itself previously paid over $100m to settle charges from US regulators that it had charged excessive fees to investors in exchange for shares in hot IPO allocations.