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Keane Securities Co., Inc.

Keane Securities Co., Inc. (CRD #8452, New York, New York) received a censure and fine of $10,000. Additionally, the firm was required to revise the firmís written supervisory procedures relating to the Securities and Exchange Commission (SEC) and NASD firm quote rules within 60 days of acceptance of this AWC by the National Adjudicatory Council (NAC). According to the findings, the firm was presented with orders at its published bid or offer in an amount up to its published quotation size, failed to execute the orders, and therefore failed to honor its published quotation. The findings also stated that the firm failed to establish, maintain, and enforce written supervisory procedures reasonably designed to achieve compliance with applicable securities laws, regulations, and NASD rules concerning SEC and NASD firm quote rules. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS990173)

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