HD Brous & Co., Inc. (CRD #22062, Great Neck, New York) received a censure and fine of $10,000. According to the findings, the firm submitted to the Order Audit Trail SystemSM (OATSSM) reports with respect to equity securities traded on the Nasdaq Stock Market that were not in the electronic form prescribed by NASD. The regulators also found that the firm failed to follow written supervisory procedures concerning OATS and thus failed to maintain a system that was reasonably designed to achieve compliance with NASD Marketplace Rule 6955(a). The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS020108)
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