has fined SG Cowen and other firms for failing to maintain proper order audit trails, regulators announced in a Monday
received the largest fine: the company will pay $800,000 for failing to report 50 million orders over a four year period.
"The enforcement actions announced today are against a wide range of firms for violations such as missing reports, inaccurate data, and failure to correct data after it had been rejected," stated Mary Schapiro
, NASD vice chairman.
Also paying fines (followed by fine amounts): Spear, Leeds & Kellogg, $75,000; Schwab Capital Markets, $70,000; Credit Suisse First Boston, $50,000; Carlin Equities Corp.: $35,000; FutureTrade Securities, $35,000; Pulse Trading Inc, $20,000; Scottrade, $16,000; Delta Asset Management Co., $15,000; Deutsche Bank Securities, $15,000; Doyle, Miles & Co., $12,500; Quantlab Securities, $12,500; BNY Brokerage Inc., $12,000; Index Securities, $11,000; Mid-Atlantic Capital Corp., $10,000; Options Trading Associates LLC, $10,000; Transcend Capital LP, $10,000, and UBS Securities LLC, $10,000.
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