FINRA - Press Room - News Release 2004 Index



12/29/04	NASD: 2004 in Review
12/22/04	Edward Jones to Pay $75 Million to Settle Revenue Sharing Charges
12/21/04	NASD Fines H&R Block Financial Advisors $500,000 for Enabling Deceptive Market Timing, Orders Payment of $325,000 in Restitution
12/16/04	SEC, NASD Sanction Knight Securities $79 Million for Fraudulent Sales to Institutional Customers
12/15/04	NASD Issues Warning on Systematic Investment Plans
12/15/04	NASD Orders First Command to Pay $12 Million for Misleading Statements in Sales of Systematic Investment Plans to Military Personnel
12/9/04	NASD Fines Sigma Financial for Suing Customers in Violation of NASD's Arbitration Code
12/8/04	NASD Alerts Firms About Liquified Home Equity Concerns
12/7/04	NASD Fines Citigroup Global Markets $275,000, Orders Restitution Relating To Managed Futures Sales
12/7/04	NASD Bars Broker For Charging Fraudulent Mark-Ups
12/6/04	NASD Fines Morgan Stanley $100,000 For Municipal Bond Disclosure Violations
11/30/04	NASD Fines 29 Firms Over $9.2 Million for Late Reporting
11/29/04	NASD Bars Former AmSouth Broker for Fraud in the Sale of Variable Annuities
11/22/04	NASD Permanently Bars Frank Quattrone from the Securities Industry for Refusal to Testify in NASD Investigation
11/17/04	NASD Names Top Officials For New Florida District Office
11/17/04	NASD Mutual Fund Task Force Submits Recommendations on Soft Dollars, Portfolio Transaction Costs To SEC
11/11/04	NASD Seeks Comment on Possible Fairness Opinion Rule
11/8/04	NASD Charges H&R Block Financial Advisors With Fraud In Sale Of Enron Bonds To Hundreds Of Customers
11/5/04	NASD Charges Park Capital, Its Owners, 10 Others With Manipulation, Fraud In Sale Of Unregistered Stock
10/25/04	NASD Fines Citigroup Global Markets, Inc. $250,000 In Largest Hedge Fund Sales Sanction To Date
10/7/04	NASD Fines Sentinel Financial Services $700,000 for Failing to Prevent Market Timing
10/6/04	NASD Charges David Lerner Associates With Using Misleading Radio Spots, Investment Seminars, Other Ads
10/4/04	NASD Sanctions 18 Firms for Order Audit Trail (OATS) Reporting and Supervision Violations
10/1/04	NASD Hearing Panel Dismisses Complaint Against Win Capital, Two Officers
9/30/04	NASD Bond Panel Urges Fuller Information, Access to Corporate Bond Market for Retail Investors
9/23/04	SEC Approves NASD Rule On Designating CCOs, CEO Certification Of Compliance Processes
9/22/04	NASD to Open New District Office in Boca Raton, Fl
9/13/04	NASD Issues Investor Alert on 529 College Savings Plans
9/2/04	NASD Investor Alert: Protecting Against Online Identity Theft
8/31/04	NASD Granted First Temporary Cease and Desist Order to Stop Ongoing Fraud by Brokerage LH Ross
8/24/04	NASD Given New Authority to Discipline Former Brokers Who Fail to Pay Arbitration Awards, Settlements
8/19/04	NASD Orders First-Ever Suspension of Mutual Fund Business and $600,000 In Sanctions Against National Securities Corp. for Deceptive Market Timing Practices
8/6/04	NASD Hearing Panel Dismisses Complaint Against Peter R. Kellogg
8/5/04	NASD Dispute Resolution Launches Online Arbitration Claim Filing And Notification System
7/29/04	NASD Fines Morgan Stanley $2.2 Million for Late Reporting, Firm Temporarily Suspended from Registering New Brokers
7/28/04	Goldman Sachs, Deutsche Bank, Miller Tabak Roberts, Citigroup Global Markets to Pay Total $20 Million for Corporate High Yield Bond Trade Violations
7/27/04	NASD Uses Cease-And-Desist Authority for First Time, Seeks Halt to Ongoing Fraud by Brokerage LH Ross
7/19/04	NASD Fines Citigroup, Merrill Lynch and Morgan Stanley a Total of $750,000 for Failing to Comply with Discovery Obligations In Arbitrations
7/14/04	NASD Charges Florida Discount Securities with Fraud
7/12/04	NASD Fines Piper Jaffray $2.4 Million for IPO Spinning
7/8/04	NASD Bars Scott W. Ryan, Expels Ryan & Company for Failure to Cooperate in Short Sale Probe
6/29/04	Eight Brokerage Firms Pay Over $610,000 to Settle NASD Charges of Municipal Price Violations
6/25/04	SEC Approves NASD Arbitrator Classification Rule Changes
6/24/04	NASD Fines Five Firms $625,000 for Supervisory System Failures Relating to Late Trading of Mutual Funds
6/18/04	NASD Implements Expedited Dispute Resolution Proceedings for Elderly or Seriously Ill Parties
6/14/04	NASD Charges Investprivate, Inc. and its Chairman with Fraudulently Raising Millions
6/9/04	SEC And NASD Release Joint Staff Report On Broker-Dealer Sales Of Variable Insurance Products
6/7/04	NASD Expels Continental Broker-Dealer Corp. for Sales Practice, Supervision Violations
6/1/04	NASD Fines Davenport & Co. In First Case Of Deceptive Market Timing In Variable Annuities
5/27/04	NASD Names 20 To Mutual Fund Task Force
5/26/04	NASD Increases Online Training For Arbitrators
5/25/04	NASD Fines and Suspends Phua Young, Former Merrill Lynch Research Analyst
5/20/04	NASD Disciplines Three Firms, Three Brokers For Variable Annuity Abuses
5/18/04	NASD Sanctions Investment Banks For IPO Violations
5/12/04	NASD Announces Mutual Fund Task Force
5/4/04	NASD Investor Education Foundation Announces Grant Guidelines, Solicits Project Applications
5/3/04	NASD Alerts Investors Of 100 Percent Mortgage Risks
5/3/04	NASD Charges Dallas, San Diego Brokerage Firms With Fraudulent Promotion Of Pink Sheet Securities
4/28/04	NASD Files Enforcement Action Against Sigma Financial For Harassing Clients, Violating Arbitration Code
4/26/04	NASD Proposes Specific Requirements for Deferred Variable Annuity Sales
4/22/04	NASD Proposes Increasing Sale Data On Corporate Bonds For Dissemination To Public Through TRACE
4/12/04	NASD Fines Long Island Brokerage Firm David Lerner Assoc. $100,000 for Prohibited Mutual Fund and Variable Product Sales Contests
4/7/04	NASD Fines Robertson Stephens and Former VP $350,000 for Attempting to Coerce Investment Banking Fees; Also Charges Former Managing Director
4/5/04	NASD Fines, Suspends Former SSB Research Analyst Christine Gochuico For Misleading Reports On Winstar
3/31/04	NASD Dispute Resolution Establishes New Hearing Location in Hartford, Connecticut
3/26/04	NASD Convenes Panel to Discuss Challenges Facing Corporate Debt Market
3/18/04	Amex Seat-Holders and NASD Approve Transfer of Amex from NASD back to the Exchange
3/15/04	NASD Charges Three Brokers with Suitability Violations for Recommending Investment Purchases Using Mortgage Proceeds
3/12/04	NASD Names Hans Reich Head of its New York Region
3/11/04	NASD Fines Ameritrade, Datek and iClearing $10 Million For Improperly Extending Credit and Allowing Trades That Avoided NASD Day Trading Margin Rules
3/8/04	NASD Charges Advantage Trading Group, Inc. and its Trade Desk Manager with Creating False Trading Records to Mislead Investigation
3/4/04	NASD Announces Rule Limiting Expungement of Customer Dispute Information from the Central Registration Depository
2/26/04	NASD Fines AXA Advisors $250,000 for Failure to Waive Sales Charges on Customers' Mutual Fund Transfers
2/19/04	NASD Fines State Street Research Investment Services $1 Million for Market Timing Supervision Violations; Firm Ordered to Pay More Than $500,000 in Restitution
2/12/04	Fifteen Firms to Pay Over $21.5 Million in Penalties to Settle SEC and NASD Breakpoints Charges
2/2/04	NASD Fines CSFB $170,000; Orders $600,000 in Restitution for Failure to Give Best Execution to Customer Orders after IPO
1/29/04	NASD Fines Prudential $2 Million; Orders $9.5 Million to Customers for Annuity Sales in Violation of NY Insurance Regs
1/16/04	NASD Hearing Panel Finds Former Tech Banker Frank P. Quattrone Failed to Respond in NASD Investigation
1/16/04	Statement From NASD Executive Vice President and Head of Enforcement Barry Goldsmith Regarding Quattrone Decision
1/14/04	NASD Charges Waddell & Reed with Suitability Violations Relating to Thousands of Variable Annuity Exchanges and Seeks Customer Compensation; Two Senior Execs Also Charged
1/12/04	NASD Bars Louisiana Broker and Orders Restitution for Unsuitable Sales of Variable Annuities and Mutual Funds
1/9/04	NASD Fines Worldco and Four of Its Owners $1.5 Million for Co-Mingling Operations with a Hedge Fund; CEO Barred, Three Others Suspended
1/6/04	NASD Members Elect Four Governors to Board