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Dirks & Company, Inc.

Dirks & Company, Inc. (CRD #42185, New York, New York) received a cnesure and fine of $18,000, and required to revise its written supervisory procedures with respect to the firm quote rules. According to the findings, the firm failed to execute orders presented at the firm's published bid or published offer in an amount up to its published quotation size, and upon presentment, failed to honor its published quotation. Additionally, the findings stated that the firm failed, within 90 seconds after execution, to transmit through ACT, last sale reports of transactions in Nasdaq National Market (NNM), Nasdaq SmallCap,SM and OTC Equity securities, and failed to designate through ACT such last sale reports as late; failed to designate as ".T" through ACT last sale reports of transactions in NNM and OTC Equity securities executed outside normal market hours; and failed, within 90 seconds after execution, to transmit through ACT last sale reports. Apparently, the regulators found that the firm did not provide for supervision reasonably designed to achieve compliance with respect to firm quote rules. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS020019)

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