Disciplined Firms Under NASD Taping Rule (NASD Rule 3010)
Effective August 17, 1998, the Securities and Exchange Commission approved an amendment to NASD Rule 3010 to require members to establish special supervisory procedures, including the tape recording of conversations, when they have hired more than a specified percentage of registered persons from certain firms that have been expelled or that have had their broker/dealer registrations revoked for violations of sales practice rules ("disciplined firms"). See Notice to Members 98-52 for a more specific explanation of this issue.
Below is a list of firms that meet the definition of "disciplined firm" under this Rule. This list is comprised of firms that were disciplined within the last three years.
AIS Financial, Inc.
Basis Financial LLC
Brewer Financial Services, LLC
Cambridge Legacy Securities, LLC
Hedge Fund Capital Partners, LLC
Hudson Valley Capital Management
Melhado, Flynn & Associates, Inc.
MICG Investment Management LLC
Pinnacle Partners Financial Corporation
Prestige Financial Center, Inc.
Take Charge Financial
Thornes & Associates, Inc. Investment Securities
Viewpoint Securities, LLC
W R Rice Financial Services, Inc.