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

Featured video

INTV

Help special needs families get started on a lifetime of planning

Managing editor Christina Nelson talks with special projects editor Liz Skinner about specialists who say any adviser can and should get the financial ball rolling for people in this community.

Video Spotlight

Are Your Clients Prepared For Market Downturns?

Sponsored by Prudential

Recommended Video

Path to growth

Latest news & opinion

Jerry Schlichter's fee lawsuits have left an indelible mark on the 401(k) industry

After a decade of litigation, fees are lower and retirement plans are more transparent. But have the lawsuits gone too far?

10 best financial adviser jokes

How many financial advisers does it take to screw in a lightbulb?

With margins crashing, broker-dealers look to merge: report

Increased regulation is straining profit margins among broker-dealers, sending many of them into the arms of their bigger brethren.

Hackers may have profited from SEC breach

The hack of the agency's Edgar filing system occurred in 2016, but the regulator didn't conclude until last month that the cybercriminals may have used their bounty to make illicit trades.

Top 10 financial firms ranked by investor satisfaction

Find out which firm took the top slot for overall investor satisfaction for the second year in a row.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print