NYSE reg announces 'naughty' list

Dec 12, 2007 @ 1:41 pm

NYSE Regulation the regulatory body of NYSE Euronext Inc., announced disciplinary actions against four firms and three individuals.

Goldman Sachs Execution and Clearing LP of Jersey City, N.J. was fined $105,000 for failing to have surveillance procedures in place to monitor the routing and execution of odd lot orders.

An odd lot order is an amount of a security that is less than the normal unit of trading for that particular security.

Ronin Capital LLC, a Chicago-based equity trading firm, was fined $200,000 for short selling violations and inadequacies in both supervision and written supervisory procedures.

Pearson Capital Management LLC of Chicago was fined $5,000 for failing to maintain continuous equities limit orders on the NYSE Arca Marketplace in each security which the firm is a registered market maker.

Penn Mont Securities, a Paoli, Pa.-based equity trading firm, was fined $3,200 for inadequate surveillance and supervision.

Each of the firms agreed to the penalties without admitting nor denying any guilt.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Latest news & opinion

Wells Fargo will ramp up spending to lure brokers

Wirehouse, after losing 400 brokers in first quarter, is bucking trend among rivals who have said they are going to cut back on spending big bucks recruiting veteran advisers

DOL fiduciary rule pushes indexed annuity carriers to develop new products

Insurers are introducing fixed-rate deferred annuities with income guarantees to circumvent BICE.

Trump is gutting rules that Corporate America hates

With executive orders, bureaucratic actions and unprecedented use of an obscure statute, the administration has killed or postponed dozens of regulations.

Wells Fargo Advisors restricting investments for retirement accounts

Mutual fund sales will be limited to T shares, while municipal bonds, preferred stock and international debt will be prohibited.

Investments that advisers should look at in an overheated market

Cash, alternatives, international all beckon, but all have pros and cons.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print