Investment bank
The company stated in the amended prospectus for its planned $850 million initial public offering that it had received a letter from the NASD as part of an industry-wide probe of gifts and gratuities.
The investigations center on Lazard's capital markets business, which will be transferred to a newly formed company, LFCM Holdings, after Lazard's IPO. The NASD prohibits brokers from giving or receiving gifts worth more than $100 in a calendar year.
Lazard said it had received a similar subpoena from the SEC requesting information about gifts and entertainment involving an unnamed mutual fund company.
Separately, regulators have been investigating mutual fund giant