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.


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