Eighteen brokerages, including Goldman Sachs, JPMorgan Chase, and Citigroup, agreed to end their participation in analyst survey programs as a result of the New York Attorney General's investigation into the early release of Wall Street analyst sentiment.
The agreement with the New York Attorney General Eric Schneiderman's office comes less than two months after BlackRock, the world's largest asset manager, agreed to end its analyst survey program worldwide.
At that time, the attorney general said that his investigation would continue into the firms that answered surveys.
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Schneiderman had expressed concerns over brokerage firm analysts who provide answers to surveys that give traders a sneak peek into forthcoming analyst reports, a practice he referred to as "Insider Trading 2.0."