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Continental Broker-Dealer Corp.

Continental Broker-Dealer Corp. (CRD #14048, Carle Place, New York) received a censure and fine of $25,000. According to the findings, the firm failed to establish and maintain supervisory procedures reasonably designed to ensure that orders placed in an IPO had been authorized by customers. Additionally, the findings also stated that the firm made an exception to its usual practice of verifying 50 percent of all customer orders with respect to the IPO. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CAF020005)

Did Continental Broker-Dealer Corp. manage your investments?



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