Two of the last securities firms involved in a selling scandal have agreed to a settlement that will net the state of Iowa several thousand dollars. Iowa’s Superintendent of Securities, Craig Goettsch, says around a dozen firms nationwide were caught with their analysts touting securities to artificially drive up their prices. He says the analysts were working “hand-in-glove” with the investment banking people who were trying to sell and market securities. He says the analysts opinions weren’t independent and their advice was colored because their pay depended upon good deals. Goettsch says the latest settlement will net Iowa 337-thousand-500 dollars from Deutsche Bank Securities Incorporated and Thomas Weisel Partners. Goettsch says around ten other firms had already settled. He says Iowa received four-point-one-two-five million dollars in fines. He says the settlements were based in part on population, so California for example received 40-million dollars. Goettsch says Iowa law requires the money to go into the state’s general fund.He says this is really a fraud on the market, so it’s not easy to find the individuals who bought and sold the inflated securities. Goettsch says the settlement does not give direct payment to consumers, but can help them. He says the documents and underlying information in the settlement are part of the public record and that information can be used by someone to file an arbitration action or lawsuit if they think they were defrauded. For more information, you can contact the Iowa Securities Bureau at 877-955-1212, or on-line at [email protected].