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Wilson-Davis & Co., Inc.

Wilson-Davis & Co., Inc. (CRD #3777, Salt Lake City, Utah) received a censure and fine of $10,000. Additionally, the firm was required to revise its written supervisory procedures concerning SEC Rule 15c2-11 and NASD Marketplace Rule 6740. According to the findings, the firm published quotations for OTC Equity Securities in quotation mediums that did not have in its records the documentation required by SEC Rule 15c2-11(a), and that it did not have a reasonable basis under the circumstances for believing that the information was accurate in all material respects or did not have a reasonable basis under the circumstances for believing that the sources of the information were reliable. The firm accepted the fine and censure but did not admit or deny the accusations.

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