RBC Dain Rauscher Inc. (CRD #31194, Minneapolis, Minnesota) received a censure and fine of $35,000. According to the findings, the firm caused a locked/crossed market condition prior to the market opening by entering a bid (ask) quotation that locked/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 5,000 shares. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS020138)
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