NYSE Fines Four Firms And Twelve Individuals

NYSE Regulation has issued disciplinary fines against four firms and 12 individuals. Morgan Stanley was fined $500,000 for multiple misconducts submitting inaccurate monthly reports of short positions in securities listed on the NYSE violating supervisory and internal control in regards

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NYSE Regulation has issued disciplinary fines against four firms and 12 individuals.

Morgan Stanley was fined $500,000 for multiple misconducts: submitting inaccurate monthly reports of short positions in securities listed on the NYSE; violating supervisory and internal control in regards to NYSE’s short-interest reporting requirements and failing to report similar positions to the American Stock Exchange and to the NASD since 1986.

The firm’s fine will be split among the NYSE, NASD and American Stock Exchange.

First Albany Capital Inc. was fined $100,000 for not maintaining written policies and procedures when addressing branch office manager supervision.

Also fined $100,000 was Stifel, Nicolaus & Co., for inadequate disclosure and improperly disclosing customer data to a third party.

And SIG Brokerage LP saw a $50,000 fine for improperly entering orders.

Each of the four firms agreed to the findings, but did not admit or deny wrongdoing.

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