Access to excess ; Fidelity traders got $3m in gifts from firms seeking their business, SEC says

From: The Boston Globe | Date: May 15, 2008| Author: Ross Kerber | Copyright information

New government documents filed this week detail the extent to which financial firms jostled to win the lucrative trading business of mutual fund giant Fidelity Investments of Boston.

In all, more than 30 firms spent more than $3 million to ply Fidelity stock traders with trips, tickets, and gifts over three years, according to the Securities and Exchange Commission. Details of the largesse were filed as part of the SEC's case against 10 current and former Fidelity employees whom the ag...

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