According to Financial News Online, FINRA has fined Credit Suisse Securities (NYSE:CS) LLC $1.75 million for violating Regulation SHO and failing to properly supervise short sales of securities and marking of sale orders.
As a result of these violations, Credit Suisse entered millions of short sale orders without reasonable grounds to believe that the securities could be borrowed and delivered and mismarked thousands of sales orders. In concluding this settlement, Credit Suisse neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
Read more at http://www.fnno.com/story/news-corner/331-credit-suisse-securities-fined-175-million-finra-cs-news-corner
No comments:
Post a Comment