finra

FINRA

2004 News Releases

   

December 29, 2004 -   NASD: 2004 in Review
December 22, 2004 -   Edward Jones to Pay $75 Million to Settle Revenue Sharing Charges
December 21, 2004 -   NASD Fines H&R Block Financial Advisors $500,000 for Enabling Deceptive Market Timing, Orders Payment of $325,000 in Restitution
December 16, 2004 -   SEC, NASD Sanction Knight Securities $79 Million for Fraudulent Sales to Institutional Customers
December 15, 2004 -   NASD Issues Warning on Systematic Investment Plans
December 15, 2004 -   NASD Orders First Command to Pay $12 Million for Misleading Statements in Sales of Systematic Investment Plans to Military Personnel
December 09, 2004 -   NASD Fines Sigma Financial for Suing Customers in Violation of NASD's Arbitration Code
December 08, 2004 -   NASD Alerts Firms About Liquified Home Equity Concerns
December 07, 2004 -   NASD Fines Citigroup Global Markets $275,000, Orders Restitution Relating To Managed Futures Sales
December 07, 2004 -   NASD Bars Broker For Charging Fraudulent Mark-Ups
December 06, 2004 -   NASD Fines Morgan Stanley $100,000 For Municipal Bond Disclosure Violations
November 30, 2004 -   NASD Fines 29 Firms Over $9.2 Million for Late Reporting
November 29, 2004 -   NASD Bars Former AmSouth Broker for Fraud in the Sale of Variable Annuities
November 22, 2004 -   NASD Permanently Bars Frank Quattrone from the Securities Industry for Refusal to Testify in NASD Investigation
November 17, 2004 -   NASD Names Top Officials For New Florida District Office
November 17, 2004 -   NASD Mutual Fund Task Force Submits Recommendations on Soft Dollars, Portfolio Transaction Costs To SEC
November 11, 2004 -   NASD Seeks Comment on Possible Fairness Opinion Rule
November 08, 2004 -   NASD Charges H&R Block Financial Advisors With Fraud In Sale Of Enron Bonds To Hundreds Of Customers
November 05, 2004 -   NASD Charges Park Capital, Its Owners, 10 Others With Manipulation, Fraud In Sale Of Unregistered Stock
October 25, 2004 -   NASD Fines Citigroup Global Markets, Inc. $250,000 In Largest Hedge Fund Sales Sanction To Date
October 07, 2004 -   NASD Fines Sentinel Financial Services $700,000 for Failing to Prevent Market Timing
October 06, 2004 -   NASD Charges David Lerner Associates With Using Misleading Radio Spots, Investment Seminars, Other Ads
October 04, 2004 -   NASD Sanctions 18 Firms for Order Audit Trail (OATS) Reporting and Supervision Violations
October 01, 2004 -   NASD Hearing Panel Dismisses Complaint Against Win Capital, Two Officers
September 30, 2004 -   NASD Bond Panel Urges Fuller Information, Access to Corporate Bond Market for Retail Investors
September 23, 2004 -   SEC Approves NASD Rule On Designating CCOs, CEO Certification Of Compliance Processes
September 22, 2004 -   NASD to Open New District Office in Boca Raton, Fl
September 13, 2004 -   NASD Issues Investor Alert on 529 College Savings Plans
September 02, 2004 -   NASD Investor Alert: Protecting Against Online Identity Theft
August 31, 2004 -   NASD Granted First Temporary Cease and Desist Order to Stop Ongoing Fraud by Brokerage LH Ross
August 24, 2004 -   NASD Given New Authority to Discipline Former Brokers Who Fail to Pay Arbitration Awards, Settlements
August 19, 2004 -   NASD Orders First-Ever Suspension of Mutual Fund Business and $600,000 In Sanctions Against National Securities Corp. for Deceptive Market Timing Practices
August 06, 2004 -   NASD Hearing Panel Dismisses Complaint Against Peter R. Kellogg
August 05, 2004 -   NASD Dispute Resolution Launches Online Arbitration Claim Filing And Notification System
July 29, 2004 -   NASD Fines Morgan Stanley $2.2 Million for Late Reporting, Firm Temporarily Suspended from Registering New Brokers
July 28, 2004 -   Goldman Sachs, Deutsche Bank, Miller Tabak Roberts, Citigroup Global Markets to Pay Total $20 Million for Corporate High Yield Bond Trade Violations
July 27, 2004 -   NASD Uses Cease-And-Desist Authority for First Time, Seeks Halt to Ongoing Fraud by Brokerage LH Ross
July 19, 2004 -   NASD Fines Citigroup, Merrill Lynch and Morgan Stanley a Total of $750,000 for Failing to Comply with Discovery Obligations In Arbitrations
July 14, 2004 -   NASD Charges Florida Discount Securities with Fraud
July 12, 2004 -   NASD Fines Piper Jaffray $2.4 Million for IPO Spinning
July 08, 2004 -   NASD Bars Scott W. Ryan, Expels Ryan & Company for Failure to Cooperate in Short Sale Probe
June 29, 2004 -   Eight Brokerage Firms Pay Over $610,000 to Settle NASD Charges of Municipal Price Violations
June 25, 2004 -   SEC Approves NASD Arbitrator Classification Rule Changes
June 24, 2004 -   NASD Fines Five Firms $625,000 for Supervisory System Failures Relating to Late Trading of Mutual Funds
June 18, 2004 -   NASD Implements Expedited Dispute Resolution Proceedings for Elderly or Seriously Ill Parties
June 14, 2004 -   NASD Charges Investprivate, Inc. and its Chairman with Fraudulently Raising Millions
June 09, 2004 -   SEC And NASD Release Joint Staff Report On Broker-Dealer Sales Of Variable Insurance Products
June 07, 2004 -   NASD Expels Continental Broker-Dealer Corp. for Sales Practice, Supervision Violations
June 01, 2004 -   NASD Fines Davenport & Co. In First Case Of Deceptive Market Timing In Variable Annuities
May 27, 2004 -   NASD Names 20 To Mutual Fund Task Force
May 26, 2004 -   NASD Increases Online Training For Arbitrators
May 25, 2004 -   NASD Fines and Suspends Phua Young, Former Merrill Lynch Research Analyst
May 20, 2004 -   NASD Disciplines Three Firms, Three Brokers For Variable Annuity Abuses
May 18, 2004 -   NASD Sanctions Investment Banks For IPO Violations
May 12, 2004 -   NASD Announces Mutual Fund Task Force
May 04, 2004 -   NASD Investor Education Foundation Announces Grant Guidelines, Solicits Project Applications
May 03, 2004 -   NASD Alerts Investors Of 100 Percent Mortgage Risks
May 03, 2004 -   NASD Charges Dallas, San Diego Brokerage Firms With Fraudulent Promotion Of Pink Sheet Securities
April 28, 2004 -   NASD Files Enforcement Action Against Sigma Financial For Harassing Clients, Violating Arbitration Code
April 26, 2004 -   NASD Proposes Specific Requirements for Deferred Variable Annuity Sales
April 22, 2004 -   NASD Proposes Increasing Sale Data On Corporate Bonds For Dissemination To Public Through TRACE
April 12, 2004 -   NASD Fines Long Island Brokerage Firm David Lerner Assoc. $100,000 for Prohibited Mutual Fund and Variable Product Sales Contests
April 07, 2004 -   NASD Fines Robertson Stephens and Former VP $350,000 for Attempting to Coerce Investment Banking Fees; Also Charges Former Managing Director
April 05, 2004 -   NASD Fines, Suspends Former SSB Research Analyst Christine Gochuico For Misleading Reports On Winstar
March 31, 2004 -   NASD Dispute Resolution Establishes New Hearing Location in Hartford, Connecticut
March 26, 2004 -   NASD Convenes Panel to Discuss Challenges Facing Corporate Debt Market
March 18, 2004 -   Amex Seat-Holders and NASD Approve Transfer of Amex from NASD back to the Exchange
March 15, 2004 -   NASD Charges Three Brokers with Suitability Violations for Recommending Investment Purchases Using Mortgage Proceeds
March 12, 2004 -   NASD Names Hans Reich Head of its New York Region
March 11, 2004 -   NASD Fines Ameritrade, Datek and iClearing $10 Million For Improperly Extending Credit and Allowing Trades That Avoided NASD Day Trading Margin Rules
March 08, 2004 -   NASD Charges Advantage Trading Group, Inc. and its Trade Desk Manager with Creating False Trading Records to Mislead Investigation
March 04, 2004 -   NASD Announces Rule Limiting Expungement of Customer Dispute Information from the Central Registration Depository
February 26, 2004 -   NASD Fines AXA Advisors $250,000 for Failure to Waive Sales Charges on Customers' Mutual Fund Transfers
February 19, 2004 -   NASD Fines State Street Research Investment Services $1 Million for Market Timing Supervision Violations; Firm Ordered to Pay More Than $500,000 in Restitution
February 12, 2004 -   Fifteen Firms to Pay Over $21.5 Million in Penalties to Settle SEC and NASD Breakpoints Charges
February 12, 2004 -   Fifteen Firms to Pay Over $21.5 Million in Penalties to Settle SEC and NASD Breakpoints Charges
February 02, 2004 -   NASD Fines CSFB $170,000; Orders $600,000 in Restitution for Failure to Give Best Execution to Customer Orders after IPO
January 29, 2004 -   NASD Fines Prudential $2 Million; Orders $9.5 Million to Customers for Annuity Sales in Violation of NY Insurance Regs
January 16, 2004 -   NASD Hearing Panel Finds Former Tech Banker Frank P. Quattrone Failed to Respond in NASD Investigation
January 16, 2004 -   Statement From NASD Executive Vice President and Head of Enforcement Barry Goldsmith Regarding Quattrone Decision
January 14, 2004 -   NASD Charges Waddell & Reed with Suitability Violations Relating to Thousands of Variable Annuity Exchanges and Seeks Customer Compensation; Two Senior Execs Also Charged
January 12, 2004 -   NASD Bars Louisiana Broker and Orders Restitution for Unsuitable Sales of Variable Annuities and Mutual Funds
January 09, 2004 -   NASD Fines Worldco and Four of Its Owners $1.5 Million for Co-Mingling Operations with a Hedge Fund; CEO Barred, Three Others Suspended
January 06, 2004 -   NASD Members Elect Four Governors to Board