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Westfalia Investments, Inc.

Westfalia Investments, Inc. (CRD #19606, New York, New York) received a censure and fine of $16,000. According to the complaint, the firm failed to create written records for proprietary short-sale orders showing the present location of the securities in question. The firm also failed to list whether they were in good deliverable form and the customerís ability to deliver them to the firm within three business days, or the identity of the individual and firm contacted who offered assurance that the shares would be delivered or that they were available for borrowing by settlement date and the number of shares needed to cover the short sales. Additionally, the regulators found that when the firm reported short-sale transactions to the ACT, the firm failed to include a symbol indicating that transactions were sell short or sell short exempt. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #C10990179)

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