And 11 of the top underwriting firms quickly agreed.

The two-year business ban would also apply if the underwriting firm hired a consultant that had made political contributions.

But halting the trading practice might not end the matter for the giant underwriting firm.

April 1 was set as the effective date for proposed restrictions on political contributions by municipal underwriting firms.

It was extensively altered in 1919 for the marine underwriting firm of Chubb & Son.

Ten people and two underwriting firms have been charged with numerous securities offenses.

The profit for an underwriting firm is now around $8 on a $1,000 bond - compared with $11 in the early 1990's.

He recalled getting a plea from a friend at a large underwriting firm who found herself ready to market a deal but with inadequate minority representation.

According to the article, competing underwriting firms will often price a deal as high as the market will bear.

Those shares were allocated to institutional investors and to favorite customers of the underwriting firms.