Analysts and traders within the same financial institution tend to have silos or Chinese walls when it comes to stocks they simultaneously trade and research.
The analysts will receive fees for researching and reporting on stocks, but that is purely independent of the trading activity.
There are still some IPO holders in profit, but that flabby arm is nearly amputated - things are slowly tightening, we just need a few more key announcements and we should be in the realms of "set and forget".
