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Direct Access Brokerage Service

Direct Access Brokerage Service (CRD #30057, Chicago, Illinois) received a censure and fine of $25,000. According to the complaint, the firm failed to respond in a timely manner to NASD requests for an automated submission of trading data for securities included in The Nasdaq Stock Market®, non-Nasdaq® securities or for securities traded on a national securities exchange. Additionally, the arbitrators found that the firm submitted automated submissions of trading data after the date the information was required to be provided. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS000023)

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