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Thomas Weisel Partners, LLC

Thomas Weisel Partners, LLC (CRD #46237, San Francisco, California) received a censure and fine of $45,000. According to the regulators, the firm, while acting as a registered market maker in securities, failed to execute orders upon presentment and thereby failed to honor its published quotation. NASD found that the firm caused a locked or crossed market condition prior to the market opening by entering a bid (ask) quotation that locked or crossed another market maker's quotations without immediately thereafter sending through SelectNet, to the market maker(s) whose quote(s) it locked or crossed, a Trade-or-Move message(s) that was at the receiving market maker's quoted price and whose aggregate size was at least 5000 shares. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS020129)

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