TITLE

Wachovia Units Fined for Notification Failures

PUB. DATE
March 2009
SOURCE
Securities Industry News;3/30/2009, Vol. 21 Issue 7, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the $1.1 million fine imposed on Wachovia Securities and First Clearing by the U.S. Financial Industry Regulatory Authority (FINRA) for failure to deliver more than 800,000 notifications to customers from 2003 to 2008. It mentions that the violations were not discovered by internal controls procedures and supervisors. It also details the purpose of the notifications.
ACCESSION #
37337012

 

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