Jefferies Group LLC is an American multinational independent investment bank and financial services company that is headquartered in New York City.
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29 Facts About Jefferies Group
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2.
On November 12,2012, Jefferies Group announced its merger with Leucadia National Corporation, its largest shareholder.
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3.
Jefferies Group LLC has a preeminent position in Technology and Healthcare focused Investment Banking transactions globally.
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4.
The firm started with $30,000 in borrowed capital, which Boyd Jefferies Group used to purchase a seat on the Pacific Coast Stock Exchange.
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5.
The growing third market helped Jefferies Group become the seventh largest firm in size and trading on the NYSE during those years.
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6.
Jefferies Group was acquired in 1969 by Minneapolis-based Investors Diversified Services, the second largest US financial services company at the time, and resigned all its stock exchange memberships.
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7.
Jefferies Group saw the acquisition as a means to increase the size of its institutional business with additional capital.
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8.
However, because IDS did not derive at least 50 percent of its gross income from broker-dealer operations, Jefferies Group had to quit the New York exchange under Exchange Rule 318.
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9.
In 1971, IDS and Jefferies Group filed an antitrust lawsuit against the exchange, seeking $6 million in damages.
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10.
Jefferies Group and its parent company claimed that the NYSE Big Board was an illegal monopoly and that exclusion had placed the company at a competitive disadvantage.
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11.
Period during which IDS owned Jefferies Group was tumultuous and ultimately in September 1973 Boyd Jefferies Group bought back the company, then based in Los Angeles.
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12.
Jefferies Group went public on October 13,1983, with an initial offering of 1.
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13.
In 1987, Boyd Jefferies Group was charged by the government and the Securities and Exchange Commission with two securities violations: "parking" stock for a customer Ivan Boesky and a customer margin violation.
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14.
Jefferies Group, who had earlier testified against Boesky, pleaded guilty; receiving a fine and a probation barring him from the securities industry for five years.
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15.
Jefferies Group itself was not charged but its brokerage unit was censured by the SEC.
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16.
In 1990, Jefferies Group derived approximately 80 percent of its revenues from equity block trades.
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In that year, following the collapse of Los Angeles-based Drexel Burnham Lambert, the fifth largest investment bank at the time, Jefferies hired 60 of its bankers and traders, including Jefferies' current chairman and CEO, Richard B Handler.
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Three years later Jefferies launched its first sector-focused investment banking effort by hiring a group of bankers from Howard Weil, an oil and gas specialty boutique.
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19.
Jefferies Group moved quickly into the fourth market: off-exchange, computer-based trading.
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20.
Jefferies Group created a wholly owned subsidiary, Investment Technology Group in 1987 to run POSIT.
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21.
Investment Technology Jefferies Group was eventually spun off as a separate public company in 1999.
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22.
On June 17,2009, after several primary dealers, including Lehman Brothers, Bear Stearns, and Merrill Lynch, either collapsed or were acquired by other firms, Jefferies Group was named one of just 17 primary dealers participating in the New York Fed's open-market buying and selling of securities and Treasury auctions and providing market information to the New York Fed.
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23.
Additionally, in February 2010 Jefferies Group was appointed as an EBT for Treasury Bills and as an OMP for long-term bonds by the Portuguese Treasury and Government Debt Agency.
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24.
Jefferies Group is providing liquidity across the whole spectrum of other European government bonds.
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25.
On November 12,2012, Jefferies Group announced its merger with Leucadia, its largest shareholder.
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26.
Jefferies Group remains independent and is the largest operating company within Leucadia.
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27.
In September 2014, Jefferies Group announced a $500 million deal with CircleBack Lending, which was the largest of its kind at the time.
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28.
On December 9,2019, the United States Security and Exchange Commission ordered Jefferies Group to pay close to $4 million, for their inappropriate handling of American depositary receipts.
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