United States:
Municipal Securities Firm Settles FINRA Charges For SHORT System Reporting Failures
02 July 2020
Cadwalader, Wickersham & Taft LLP
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A municipal securities firm settled FINRA charges for reporting failures
regarding the MSRB's Short-Term Obligation Transparency
("SHORT") System. According to FINRA, the firm violated
MSRB Rule G-34 ("CUSIP Numbers, New Issue, and
Market Information Requirements") by failing in numerous
instances to submit the correct minimum denomination and maximum
interest rates to the SHORT System.
To settle the charges, the firm agreed to a (i) censure and (ii)
$35,000 fine.
Primary Sources
- FINRA AWC: BNY Mellon Capital Markets
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