According to the SEC: "From July 1, 1999 to June 30, 2001 (the "relevant period") certain research analysts at Bear Stearns were subjected to investment banking influences and conflicts of interest between supporting investment banking business and publishing objective research. In addition, research analysts at Bear Stearns were encouraged to participate in investment banking activities, and that was a factor considered in the analysts' compensation system. Bear Stearns also made a payment to another securities firm primarily for research coverage for an investment banking client."

According to the SEC: "The Securities and Exchange Commission announced today that it has settled charges against Bear, Stearns & Co. Inc., a New York-based brokerage firm and investment bank, arising from an investigation of research analyst conflicts of interest. This settlement, and settlements with nine other brokerage firms, are part of the global settlement the firms have reached with the Commission, NASD, Inc., the New York Stock Exchange, Inc. ("NYSE"), the New York Attorney General, and other state regulators. "

The Court stated: "Plaintiff Securities and Exchange Commission ("Commission") having tiled a Complaint in this action ("Complaint") and Defendant Bear, Steams & Co. Inc. ("Defendant") having (a) entered a general appearance, (b) consented to the Court's jurisdiction over Defendant and the subject matter of this action, (c) consented to entry of this Final Judgment without admitting or denyng the allegations of the Complaint (except as to jurisdiction), (d) waived findings of fact and conclusions of law, and (e) waived any right to appeal from this Final Judgment; and the Commission having agreed that, on the basis of this Final Judgment, it will not institute a proceeding against Defendant pursuant to Sections 15(b), 15B, 15C, or 19(h) of the Securities Exchange Act of 1934 (the "Exchange Act")."

On March 19, 2010, the SEC published a litigation release announcing that the Honorable William H. Pauley issued an order approving modifications to the final judgments entered against Bear, Stearns & Co. Inc. and the other firms covered by the Global Research Analyst Settlement.

The SEC consented to modifications to October 2003 and September 2004 final judgments against Bear, Stearns & Co. and other investment banks covered by a global settlement of SEC And other enforcement actions against twelve investment banks and two individuals. In 2025, the settling firms filed motions to terminate their remaining undertakings under this settlement and the SEC consented.

Defendants filed an unopposed motion to modify final judgments. The SEC consented to modifying the final judgments, noting that unique facts and circumstances justify modification of the judgment in the public interest.