MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, October 4, 2004 NASD Hits 18 Firms with $1.2 MM in Fines NASD has fined SG Cowen and other firms for failing to maintain proper order audit trails, regulators announced in a Monday release. SG Cowen received the largest fine: the company will pay $800,000 for failing to report 50 million orders over a four year period. "The enforcement actions announced today are against a wide range of firms for violations such as missing reports, inaccurate data, and failure to correct data after it had been rejected," stated Mary Schapiro, NASD vice chairman. Also paying fines (followed by fine amounts): Spear, Leeds & Kellogg, $75,000; Schwab Capital Markets, $70,000; Credit Suisse First Boston, $50,000; Carlin Equities Corp.: $35,000; FutureTrade Securities, $35,000; Pulse Trading Inc, $20,000; Scottrade, $16,000; Delta Asset Management Co., $15,000; Deutsche Bank Securities, $15,000; Doyle, Miles & Co., $12,500; Quantlab Securities, $12,500; BNY Brokerage Inc., $12,000; Index Securities, $11,000; Mid-Atlantic Capital Corp., $10,000; Options Trading Associates LLC, $10,000; Transcend Capital LP, $10,000, and UBS Securities LLC, $10,000. Printed from: MFWire.com/story.asp?s=8184 Copyright 2004, InvestmentWires, Inc. All Rights Reserved |