US regulators to split research and banking | FT

You know, I understand the logic behind the separation of research and investment banking. I also understand the feasibility of doing this. However, what is this "separation of IPO allocation and investment banking"? Spinning off the Equity Capital Market division??? There have to be lots of communication between the ECM and the investment banking and I simply think this one has gone too far.....

"Wall Street watchdogs are set to force the separation of research and investment banking as part of a global settlement of their investigations into conflicts of interest.

The regulators on Thursday unveiled a common front on settlement talks that aides said reflected their agreement on the need for radical reform of Wall Street securities firms to restore investor confidence." - more