TITLE

NASD Panel Overturns Charges That Sisung, Owner Engaged in Pay-to-Play

AUTHOR(S)
Hume, Lynn
PUB. DATE
November 2004
SOURCE
Bond Buyer;11/30/2004, Vol. 350 Issue 32019, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on dispute settlement in securities trading industry in the U.S. A National Association of Securities Dealers (NASD) hearing panel has overturned the NASD's charges that Sisung Securities Corp. and its owner, Lawrence J. Sisung, engaged in pay-to-play practices and violated Rule G-37 by making almost $17,000 in political contributions to Louisiana State Bond Commission members and then underwriting more than 21 bond issues in the state for earnings of almost $2.2 million. The enforcement staff also said that, the contributions to the State Bond Commission violated the rule because members of the commission were issuer officials covered by G-37.
ACCESSION #
15256386

 

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