NYSE reg announces 'naughty' list

Dec 12, 2007 @ 1:41 pm (Updated 2:09 pm) EST

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.