Investment Services Capital Corp. (CRD #31271, Suffern, New York) received a censure and fine of $12,000. According to the complaint, the firm reported long-sale transactions incorrectly to ACT as short-sale transactions. Furthermore, the firm failed to establish, enforce and maintain written supervisory procedures adequately designed to achieve compliance with the applicable NASD rules. The firm accepted the fine and censure but did not admit or deny the accusations. (NASD Case #CMS000049)
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