TITLE

NASD Fines 29 Firms $9.2M for Late Reporting of Broker Data

AUTHOR(S)
Hume, Lynn
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/1/2004, Vol. 350 Issue 32020, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that the National Association of Securities Dealers (NASD) announced yesterday that they have censured and fined 29 securities firms more than $9.2 million for over 8,000 incidences of late reporting of key information about their brokers, including customer complaints, regulatory actions, and criminal charges and convictions. The enforcement actions stem from the firms' failure to comply with NASD rules that require a dealer that hires a broker to ensure that the information on the broker's registration application is kept current in the NASD's central registration depository, which is used by law enforcement officials and members of the public.
ACCESSION #
15256503

 

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