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Track ECN/Track Data Securities Corp.

Track ECN/Track Data Securities Corp. (CRD #103802, Brooklyn, New York) received a censure and fine of $10,000. The firm was also required, within 30 days, to revise its written supervisory procedures with respect to applicable securities laws, regulations, and NASD rules concerning the registration of persons with NASD, Best Execution, the SEC's Limit Order Display Rule, trade reporting, recordkeeping, locked and/or crossed markets, OATS reporting, anti-competitive practices, "Chinese Walls" (or information barriers), general operating system/procedures, short sales, Regulation ATS, and SEC Rule 11Ac1-5. According to the findings, the firm failed to register with NASD, as limited representative equity traders, persons associated with the firm where such persons, with respect to transactions in equity, preferred, or convertible debt securities, were engaged in proprietary trading and the execution of transactions on an agency basis, and made available a report on the covered orders in NMS securities that it received for execution from any person that included incorrect and incomplete information as to classification of orders as covered or not covered. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS040068)

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