Cardinal Capital Management, Inc. (CRD #24605, Miami, Florida) received a censure and fine of $12,500. According to the findings, the firm executed principal equity transactions for its own account as well as public customer accounts through its clearing firm and failed to have someone registered as an equity trader. Additionally, the regulators found that the firm failed to make filings pursuant to the customer complaint-reporting requirement, although it had an arbitration award and customer complaints that were reportable. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #C07020101)
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