Pushing Enron: H & R Block fights NASD.(National Association of Securities Dealers)(Brief Article)

Research,  January, 2005  by Martin, Robert Scott

Tags: Enron Corp., NASD

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STILL BEST-KNOWN as a tax preparer, H & R Block is disputing an NASD finding that the firm's financial advisory unit intentionally dumped $702,000 in Enron paper on its clients even after the company's debt rating went south.

According to the NASD, Block brokers made "affirmative misrepresentations" by touting the Enron bonds as AAA-rated when the energy trading empire was on the edge of collapse. Furthermore, these sales were rewarded with "significantly higher" broker payouts, reportedly up to triple normal.

Block calls the ruling ...

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