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H & R Block Financial Advisors, Inc.

H & R Block Financial Advisors, Inc. (CRD #5979, Detroit, Michigan) received a censure and fine of $50,000. According to the regulators, when an order was presented to the firm at the firm's published bid or published offer in an amount up to its published quotation size. Apparently, the firm failed to execute the orders upon presentment and thereby failed to honor its published quotation. The findings also stated that the firm, a market maker in securities, without making reasonable efforts to avoid a locked or crossed market by executing transactions with all market makers whose quotations would be locked or crossed, entered bid or ask quotations in The Nasdaq Stock Market, which caused a locked or crossed market condition to occur in each instance. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS020035)

Did H & R Block Financial Advisors, Inc. manage your investments?

 

 

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