The FT reports that a former senior executive at CSFB is resisting attempts by securities regulators to interview him as part of the on-going probes into Wall Street stock research practices. He claims that the subpoena served on him a month ago by Massachusetts authorities is not lawful.
Elliott Rogers was global head of technology stock research at CSFB and the newspaper quotes unnamed 'people familiar with the investigation' who have said that he rejected a subpoena on the basis that the Massachusetts authorities did not have 'proper juristiction'.
Rogers worked closely with CSFB star IPO banker Frank Quattrone, who state investigators are anxious to question early next year. It is thought that the Massachusetts authorities were hoping to have interviewed Rogers before taking on Quattrone. This may not now be possible as Quattrone is due to be seen on January 13th. He will face questions about alleged misconduct in respect of his unit's stock research and IPO allocation practices.
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