NASD Said to Be Preparing to Act Against Firms for Unfair Pricing

Hume, Lynn
April 2004
Bond Buyer;4/6/2004, Vol. 348 Issue 31857, p1
Trade Publication
Focuses on the preparation of the U.S. National Association of Securities Dealers to take enforcement action against a half-dozen broker-dealers for engaging in unfair pricing practices with customers. Possibility of settlements with municipal broker-dealer firms; Monetary fines for settlements; Concerns about wide pricing disparities in the municipal market.


Related Articles

  • NASD revises its proposal for debt-markup guidance. Hume, Lynn Stevens // Bond Buyer;09/02/98, Vol. 325 Issue 30470, p1 

    Reports that the National Association of Securities Dealers has filed with the United States Securities and Exchange Commission a proposed guidance on markups of debt securities. Controversies over the federal markup policy; Allegations of yield burning against Dain Rauscher Inc.; Role for the...

  • Forcing brokers to keep their words. Luxenberg, Stan // Medical Economics;11/13/95, Vol. 72 Issue 21, p18 

    Reports on the imposition of tough penalties on brokers who violates settlement agreements by the United States National Association of Securities Dealers.

  • NASD Hands Out $625,000 In Fines For Late Trading Of Mutual Funds.  // Insurance Advocate;7/12/2004, Vol. 115 Issue 25, p34 

    Reports that the NASD has censured and fined brokerage firms. Failure of the firms to implement adequate supervisory systems and written procedures designed to detect and prevent late trading; Vigilance of the NASD about sanctioning firms for failing to have adequate supervisory systems;...

  • NASD Fines American General $1.1 3M Over Fund Practices. Hume, Lynn // Bond Buyer;4/6/2006, Vol. 356 Issue 32355, p5 

    The article reports on the imposition of fines to the American General Securities Inc., an affiliate of American International Group Inc., by the National Association of Securities Dealers for discriminatory treatment to 12 mutual fund companies and receiving direct payments or brokerage...

  • HSBC Unit Fined $250K in Bond Trading.  // American Banker;5/30/2007, Vol. 172 Issue 103, p20 

    The article reports that the National Association of Securities Dealers (NASD) has fined an American brokerage unit of HSBC Holdings PLC for failing to adopt adequate systems for supervising government securities trading. A discussion is presented about violations by HSBC Holdings and the...

  • NASD Fines Alliance, Putnam, Scudder $700,000. Barney, Lee // Money Management Executive;2/19/2007, Vol. 15 Issue 7, p1 

    The article reports on the decision of the National Association of Securities Dealers (NASD) to fine AllianceBernstein, Putnam Investments and DWS Scudder a total of $700,000 in the U.S. NASD explains that the three companies have improperly paid for entertainment and guest expenses at training...

  • Wall Street cops had a busy year.  // Medical Economics;2/18/2005, Vol. 82 Issue 4, p12 

    Reports on the amount of disciplinary fines collected by the National Association of Securities Dealers in 2004. Number of individuals and firms barred by the agency from the securities industry; Number of customer complaints filed.

  • 15 Firms Settle Fund Charges. Trincal, Emma // On Wall Street;Jul2005, Vol. 15 Issue 7, p20 

    The article reports that several broker dealers and a mutual fund company have been fined by the National Association of Securities Dealers (NASD) for violating its ban on directed brokerage between 2001 and 2003. According to Roger Sherman, senior vice president for enforcement of NASD, there...

  • Broker-Dealer Regulatory Update (As of 6/5/2008).  // Venulex Legal Summaries;2008 Q2, following p2 

    This section offers news briefs on regulatory developments affecting the securities industry in the U.S. as of June 5, 2008. NASDAQ proposed to modify the processing of Price to Comply orders contained in the NASDAQ Rule. The Securities and Exchange Commission (SEC) has approved a proposed rule...


Read the Article


Sign out of this library

Other Topics