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EDI Financial, Inc.

EDI Financial, Inc. (CRD #15699, Dallas, Texas) received a censure and fine of $11,000, jointly and severally. According to the findings, the firm effected the sale of municipal securities from its own account to that of a public customer at aggregate prices that were unfair and unreasonable in that the markups were 8.2 and 15.9 percent, respectively. Additionally, the firm failed to designate a principal responsible for the supervision of municipal securities activities. Apparently, the firm failed to establish, maintain and enforce written supervisory procedures with respect to the applicable securities laws and regulations. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #C06000030)

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