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NASD Fines Merrill Lynch $5 Million for Call Center Supervisory Failures, Sales Contest Violations

28 August, 2007

Washington, D.C. — NASD announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $5 million for supervisory failures, registration violations, impermissible sales contests and other violations in connection with the operation of its Financial Advisory Center (FAC) located in Hopewell, NJ and Jacksonville, FL... More here>>

References:
Merrrill Lynch Fraud
Merrill Lynch

Labels: Merrrill Lynch Fraud

| Add Comment | View Comments (0) | Posted by: Nicholas J. Guiliano at 8:11:22 AM

Prudential Fined for Fraud

24 August, 2007

Pruco Securities, LLC (CRD #5685, Newark, New Jersey) and Prudential
Investment Management Services LLC (CRD #18353, Newark, New Jersey)
submitted a Letter of Acceptance, Waiver and Consent in which they were
censured, fined $525,000, jointly and severally, and required to conduct an
audit and prepare written findings regarding their compliance with NASD
rules relating to the filing, approval and recordkeeping requirements for
advertisements and sales literature... More here>>

References:
Prudential Fraud
Prudential Fraud

Labels: Prudential Fraud

| Add Comment | View Comments (0) | Posted by: Nicholas J. Guiliano at 6:16:15 PM

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