NASD Regulation Issues Complaint Against Hampton Capital Management Corp., CEO, and Employee for Denying Inspection
Washington, D.C.-- NASD Regulation, Inc., today announced that it has issued a complaint against Hampton Capital Management Corp.; its Chief Executive Officer and President, Marquis B. Quetant; and a Hampton employee, Rhett McIntosh for failing to cooperate with an NASD RegulationSM investigation and for intentionally providing false information to NASD Regulation.
The complaint results from a September 25, 1997, unannounced on-site inspection of Hampton Capital’s New York City branch office when NASD Regulation examiners from the New York District Office were denied access to Hampton’s office. Simultaneously, additional NASD Regulation examiners conducted an on-site inspection at Hampton’s main office in Stamford, CT and were admitted.
All NASD-registered firms are required to give NASD Regulation examiners immediate and unimpaired access to the firm’s books and records. Refusing regulators access is a serious issue.
The filing of an NASD Regulation complaint represents the initiation of a formal proceeding. At this time, the allegations have not been proven and no decision has been made. Under NASD Regulation rules, the firm can file a response to these charges and request a hearing before an NASD Regulation disciplinary panel. Possible sanctions include a fine, suspension, or expulsion from the NASD.
NASD Regulation oversees all U.S. stockbrokers and brokerage firms. NASD Regulation, along with The Nasdaq Stock Market, Inc., are subsidiaries of the National Association of Securities Dealers, Inc. (NASDÒ ), the largest securities-industry self-regulatory organization in the United States.
Investors who have questions should contact NASD Regulation at (301) 590-6500.