Financial Services Industry
Industry: Email Alert RSS FeedNASD's $1.4M State Street fine is its biggest for bond trading.(Short Interests)
Investment News, November, 2005
Byline: Bruce Kelly NEW YORK - Regulators are continuing to wade into the opaque bond market. NASD last Tuesday tagged a broker-dealer with its largest fine ever for fixed-income trade-reporting violations. The Washington-based association said it fined State Street Global Markets LLC of Boston $1.4 million "for violations relating to the reporting of corporate and municipal bond trades.'' The firm "was cited for failing to report thousands of corporate bond trades to NASD's Trade Reporting and Compliance Engine and hundreds of municipal bond trades to the [Alexandria, Va.-based] Municipal Securities Rulemaking Board over a 17-month period.'' NASD added that it "also cited State Street Global for supervisory deficiencies relating to...
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