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A fixed-income analyst at Wachovia has filed a Sarbanes-Oxley complaint with the department of Labour.

The complaint alleges that Wachovia attempted to influence research on Collaterized Debt Obligations by research analyst Arturo Cifuentes. Mr Cifuentes is no longer at Wachovia Securities.

Wachovia it is alleged, at times tried to stop fixed income research reports. Further, Wachovia, it is alleged, applied influence to coincide with firm deals and sales to clients.

According to Mr Cifuentes, he attempted to stop and report the conduct, as well as allege how firm permitted analyst compensation to be directly and/or indirectly influenced and affected.

The Sarbanes-Oxley Act requires companies to put in place a mechanism for employees to report failures in internal controls. Colloquially known as whistleblowing.

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