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WIEN Securities Corporation

WIEN Securities Corporation (CRD #10467, Jersey City, New Jersey) received a censure and fine of $22,500. According to the findings, the firm was a party to a locked or crossed market condition prior to the market opening and received a trade-or-move message in each instance through SelectNet but, within 30 seconds of receiving such messages, failed to fill the incoming trade-or-move message for the full size of the message or move its bid down (offer up) by a quotation increment that would have unlocked/uncrossed the market. Additionally, the regulators found that the firm failed to execute the orders upon presentment and thereby failed to honor its published quotation. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS020192)

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