NASD Starts Commerce Examination

Hume, Lynn
September 2004
Bond Buyer;9/3/2004, Vol. 349 Issue 31962, p1
Trade Publication
Reports that the National Association of Securities Dealers (NASD) is investigating whether Commerce Capital Markets Inc. is engaged in a pay-to-play practices in the municipal market in Philadelphia, Pennsylvania. Role of Commerce Bancorp Inc. in the pay-to-play market practice of Commerce Capital; Refusal of NASD to coordinate its investigative efforts with the U.S. Securities and Exchange Commission; Letter sent by NASD to current and former employees of Commerce Capital seeking information about their involvement in the political action committees.


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