United States:
Broker-Dealer Settles FINRA Charges For OTC Quotation Display, Locking And Crossing Violations
09 December 2019
Cadwalader, Wickersham & Taft LLP
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A broker-dealer settled FINRA charges for engaging in a
pattern of "displaying, locking or crossing" quotations
in connection with OTC equity securities in violation of FINRA Rule 6437 (Prohibition from Locking or
Crossing Quotations in OTC Equity Securities) and FINRA Rule 2010 (Standards of Commercial Honor
and Principles of Trade).
According to the Letter of Acceptance, Waiver and Consent, the
broker-dealer agreed to (i) a censure and (ii) a fine of
$15,000.
Primary Sources
- FINRA AWC: PUMA Capital, LLC
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