E*Trade Securities, Inc. (CRD #29106, Rancho Cordova, California) received a censure and fine of $155,000. According to the findings, the firm failed to report e-mail and written customer complaints in its quarterly statistical report to NASD. The regulators also found that the firm failed to establish written supervisory procedures that were reasonably designed to ensure that customer complaints received via e-mail were properly reported, and thereby failed to supervise adequately the reporting of such complaints. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #C01020016)
Did E*Trade Securities, Inc. manage your investments?
SHEPHERD, SMITH & EDWARDS, LLP
Offices and Associates:
New York, Chicago, San Francisco, Dallas,
Houston, New Orleans, Phoenix,
and Mexico City.
Main Office: 1010 Lamar, Suite 900, Houston,
Tel. (713) 227-2400 - Fax. (713) 227-7215